Ishiba states no talk with Trump on automobile tariffs at summit

Trump recognises Japan's US substantial investment, job production

LNG, raovatonline.org steel, AI and cars are locations Japan can purchase US

Nippon Steel will run under US management, personnel

Japan will not raise defence spending without public support

TOKYO, trademarketclassifieds.com Feb 9 (Reuters) - Japanese Prime Minister Shigeru Ishiba expressed optimism on Sunday that his nation might prevent higher U.S. tariffs, saying President Donald Trump had actually "identified" Japan's huge financial investment in the U.S. and the American jobs that it produces.

At his very first White House top on Friday, Ishiba told public broadcaster NHK, he explained to Trump the number of Japanese car manufacturers were producing jobs in the United States.

The 2 did not particularly discuss vehicle tariffs, Ishiba said, although he said he did not understand whether Japan would go through the reciprocal tariffs that Trump has said he plans to trouble imports.

Tokyo has up until now left the trade war Trump unleashed in his very first weeks in office. He has revealed tariffs on items from Canada, pediascape.science Mexico and China, although he held off the 25% tasks on his North American neighbours to permit talks.

The escalating trade stress given that Trump went back to the White House on January 20 threaten to burst the worldwide economy.

Ishiba said he thinks Trump "identified the truth Japan has been the world's biggest financier in the United States for 5 straight years, and is for that reason various from other countries."

"Japan is developing many U.S. jobs. I think (Washington) won't go straight to the concept of greater tariffs," he said.

Ishiba voiced optimism that Japan and the U.S. can prevent a tit-for-tat tariff war, worrying that tariffs need to be put in location in such a way that "benefits both sides".

"Any action that makes use of or omits the opposite won't last," Ishiba said. "The concern is whether there is any issue in between Japan and the United States that necessitates imposing greater tariffs," he added.

Japan had the greatest foreign direct financial investment in the United States in 2023 at $783.3 billion, followed by Canada and Germany, online-learning-initiative.org according to the most recent U.S. Commerce Department data.

Trump pressed Ishiba to close Japan's $68.5 billion yearly trade surplus with Washington however revealed optimism this might be done rapidly, offered a guarantee by Ishiba to bring Japanese investment in the U.S. to $1 trillion.

On Sunday, Ishiba recognized melted natural gas, steel, AI and vehicles as locations that Japanese companies could purchase.

He likewise touched on Trump's pledge to look at Nippon Steel investing in U.S. Steel, larsaluarna.se rather than buying the storied American company - a prepared purchase opposed by Trump and obstructed by his predecessor, Joe Biden.

"Investment is being made to ensure that it remains an American business. It will continue to operate under American management, with American employees," Ishiba said. "The bottom line is how to guarantee it remains an American business. From President Trump's point of view, this is of utmost significance."

On military spending, another location where Trump has actually pressed allies for increases, Ishiba said Japan would not increase its defence budget without first winning public backing. "It is important to make sure that what is considered required is something the taxpayers can understand and support," he said. (Reporting by Leika Kihara: by Tim Kelly; Editing by William Mallard)