Ishiba says no talk with Trump on automobile tariffs at top

Trump acknowledges Japan's US big investment, job production

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

Nippon Steel will operate under US management, staff

Japan will not raise defence costs without public support

TOKYO, Feb 9 (Reuters) - Japanese Prime Minister Shigeru Ishiba revealed optimism on Sunday that his country could avoid greater U.S. tariffs, saying President Donald Trump had "identified" Japan's big financial investment in the U.S. and valetinowiki.racing the American tasks that it develops.

At his first White House summit on Friday, Ishiba informed public broadcaster NHK, he explained to Trump how numerous Japanese automakers were developing tasks in the United States.

The 2 did not specifically go over auto tariffs, Ishiba said, although he said he did not know whether Japan would undergo the mutual tariffs that Trump has actually said he prepares to trouble imports.

Tokyo has up until now left the trade war Trump let loose in his first weeks in workplace. He has announced tariffs on items from Canada, Mexico and China, although he postponed the 25% responsibilities on his North American neighbours to allow for talks.

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

Ishiba said he believes Trump "recognised the fact 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 lots of U.S. tasks. I think (Washington) will not go straight to the idea of greater tariffs," he said.

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

"Any action that exploits or leaves out the other side will not last," Ishiba said. "The concern is whether there is any issue between Japan and the United States that warrants enforcing greater tariffs," he included.

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

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

On Sunday, Ishiba recognized melted natural gas, steel, AI and vehicles as locations that Japanese companies might invest in.

He likewise discussed Trump's guarantee to look at Nippon Steel investing in U.S. Steel, as opposed to buying the storied American company - a planned purchase opposed by Trump and blocked by his predecessor, Joe Biden.

"Investment is being made to make sure that it remains an American company. It will continue to run under American management, with American employees," Ishiba said. "The bottom line is how to ensure it remains an American business. From President Trump's perspective, this is of utmost importance."

On military spending, another location where Trump has pushed allies for boosts, Ishiba said Japan would not increase its defence spending plan without first winning public support. "It is vital to make sure that what is considered necessary is something the taxpayers can understand and support," he said. ( by Leika Kihara: Additional reporting by Tim Kelly; Editing by William Mallard)