Ishiba states no talk with Trump on automobile tariffs at summit

Trump recognises Japan's US big investment, job creation

LNG, steel, AI and vehicles are areas Japan can purchase US

Nippon Steel will operate under US management, personnel

Japan will not raise defence spending without public support

TOKYO, Feb 9 (Reuters) - Japanese Prime Minister Shigeru Ishiba expressed optimism on Sunday that his nation could prevent higher U.S. tariffs, stating President Donald Trump had actually "acknowledged" Japan's huge investment in the U.S. and the American tasks that it develops.

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

The 2 did not particularly go over vehicle tariffs, Ishiba said, asteroidsathome.net although he said he did not know whether Japan would be subject to the mutual tariffs that Trump has said he prepares to enforce on imports.

Tokyo has up until now left the trade war Trump unleashed in his first weeks in office. He has announced tariffs on goods from Canada, Mexico and China, although he postponed the 25% tasks on his North American neighbours to enable talks.

The escalating trade tensions considering that Trump returned to the White House on January 20 threaten to burst the worldwide economy.

Ishiba said he believes Trump "acknowledged the fact Japan has been the world's largest investor in the United States for 5 straight years, and is for that reason different from other countries."

"Japan is creating lots of U.S. jobs. I believe (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, stressing that tariffs need to be put in place in such a way that "advantages both sides".

"Any action that exploits or omits the opposite will not last," Ishiba said. "The question is whether there is any issue between Japan and the United States that requires enforcing greater tariffs," he added.

Japan had the highest foreign direct financial investment in the United States in 2023 at $783.3 billion, followed by Canada and Germany, according to the most current U.S. Commerce Department information.

Trump pressed Ishiba to close Japan's $68.5 billion yearly trade surplus with Washington but expressed optimism this could be done quickly, given a pledge by Ishiba to bring Japanese investment in the U.S. to $1 trillion.

On Sunday, Ishiba identified liquefied natural gas, steel, AI and vehicles as areas that Japanese business might invest in.

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

"Investment is being made to guarantee that it remains an American company. It will continue to operate under American management, with American staff members," Ishiba said. "The essential point is how to guarantee it remains an American company. From President Trump's perspective, this is of utmost significance."

On military spending, another area where Trump has pressed allies for wiki.eqoarevival.com increases, Ishiba said Japan would not increase its defence budget plan without very first winning public support. "It is vital to ensure that what is considered essential is something the taxpayers can understand and support," he said. (Reporting by Leika Kihara: by Tim Kelly; Editing by William Mallard)