TOKYO: The US government on Thursday (Aug 7) promised to amend a presidential executive order to remove overlapping tariffs on Japanese goods, Tokyo’s trade negotiator said, after talks in Washington to fix what he called a “regrettable” oversight.
In those discussions, Ryosei Akazawa urged US Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent to ensure that a 15 per cent levy agreed last month on Japanese imports was not stacked on goods, such as beef, that are subject to higher tariffs.
They explained they would amend a Jul 31 presidential order, which included a no-stacking provision for the European Union but not Japan, and also refund excess duties collected, Akazawa said.
Lutnick and Bessent also said Trump would lower auto tariffs to 15 per cent from 27.5 per cent in a separate executive order, in line with the trade agreement reached by the two countries last month.
“Frankly, I did not expect to be visiting the US again so soon after my last trip,” said Akazawa, who has travelled to Washington nine times since April.
The US Treasury and Commerce Department did not immediately respond to requests for comment on the meetings with Akazawa.
The further clarity on US tariffs as well as strong corporate earnings pushed Japan’s broad Topix index to a record over the key psychological mark of 3,000 points.
