Ishiba states no talk with Trump on auto tariffs at top

Trump identifies Japan's US huge financial investment, task production

LNG, steel, AI and vehicles are areas Japan can invest in 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 expressed optimism on Sunday that his nation might greater U.S. tariffs, stating President Donald Trump had "acknowledged" Japan's huge financial investment in the U.S. and the American tasks that it produces.

At his first White House summit on Friday, bytes-the-dust.com Ishiba told public broadcaster NHK, he explained to Trump the number of Japanese automakers were developing tasks in the United States.

The 2 did not specifically talk about car tariffs, Ishiba said, although he said he did not understand whether Japan would go through the mutual tariffs that Trump has actually said he prepares to impose on imports.

Tokyo has so far got away the trade war Trump released in his very first weeks in workplace. He has announced tariffs on items from Canada, Mexico and China, although he postponed the 25% tasks on his North American neighbours to permit talks.

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

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

"Japan is producing many 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 avoid a tit-for-tat tariff war, stressing that tariffs ought to be put in location in a method that "advantages both sides".

"Any action that makes use of or leaves out the opposite won't last," Ishiba said. "The concern is whether there is any problem between Japan and the United States that calls for imposing higher tariffs," he included.

Japan had the greatest foreign direct financial 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 data.

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

On Sunday, Ishiba identified melted natural gas, steel, AI and cars as areas that Japanese companies might purchase.

He also touched on Trump's promise to look at Nippon Steel buying U.S. Steel, instead of purchasing the storied American company - a prepared purchase opposed by Trump and blocked by his predecessor, Joe Biden.

"Investment is being made to make sure that it remains an American business. It will continue to run under American management, with American workers," Ishiba said. "The key point is how to ensure it remains an American company. From President Trump's point of view, this is of utmost significance."

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