Trump's Surprise Trade Talks with Japan: A Step Toward Resolution?

In an unexpected move, President Donald Trump initiated direct trade talks with Japan, represented by minister Ryosei Akazawa. The discussions aimed at addressing tariffs affecting global imports. Both parties agreed to meet again, focusing on trade and investment without delving into exchange rate issues.

In a surprising turn of events, President Donald Trump engaged in direct trade negotiations with a Japanese delegation on Wednesday in Washington. The talks mark an early test to reconsider the barrage of tariffs that have impacted global imports, financial markets, and caused fears of a recession.

Leading the Japanese side was Ryosei Akazawa, the economic revitalisation minister, who confirmed a commitment to a follow-up meeting later this month. Trump's emphasis on the importance of reaching a trade agreement with Japan was echoed on social media, though specific details of the discussions were not disclosed.

Despite the optimism, Japanese Prime Minister Shigeru Ishiba expressed caution, emphasizing that negotiations won't be easy. Meanwhile, the Trump administration maintained its stance on tariffs, with Japan under pressure facing tariffs on its U.S. exports although a 24% levy remains paused for 90 days.

(With inputs from agencies.)