President Donald Trump, Treasury Secretary Scott Bessent and U.S. trade representative Jamieson Greer are expected to negotiate a historic deal with Japan on Wednesday as they meet with Tokyo’s Economic Revitalization Minister Ryōsei Akazawa.
Military support, energy projects and exchange rates are all expected to be on the table during the talks as the countries aim to strike a mutually beneficial deal, Reuters reported.
Bessent recently told Bloomberg that there is a "first-mover advantage" in trade deals with the White House, something that could make Washington more amenable to Japan.
President Donald Trump, right, meets with Japan's Prime Minister Shigeru Ishiba at the White House in Washington, D.C., on Feb. 7, 2025. (REUTERS/Kent Nishimura / Reuters)
"Japan is coming in today to negotiate tariffs, the cost of military support, and ‘TRADE FAIRNESS.’ I will attend the meeting, along with Treasury & Commerce Secretaries," Trump wrote in a post on Truth Social. "Hopefully something can be worked out which is good (GREAT!) for Japan and the USA!"
Meanwhile, Akazawa conveyed Japanese Prime Minister Shigeru Ishiba’s desire for a "win-win" deal with Washington, according to the Wall Street Journal. Tokyo’s priorities reportedly include measures to address the trade imbalance between the two countries, which could include an increase in U.S. imports to Japan — an outcome Washington would likely support.
President Donald Trump displays a signed executive order imposing tariffs on imported goods during an event at the White House on April 2. (Andrew Harnik/Getty Images / Getty Images)
Japan was slapped with a 24% tariff after Trump’s "Liberation Day" announcement. As of now, the tariff has been paused for 90 days. However, the country still faces the universal 10% tariff and, according to the Financial Times, the tariffs on Japanese auto exports remain in place.
Ahead of the U.S.-Japan talks, Ishiba made it clear that Tokyo is not looking to rush into a deal by making major concessions.
Japanese Prime Minister Shigeru Ishiba speaks during a news conference in Tokyo on Tuesday, April 1. (Nicolas Datiche/Sipa/Bloomberg via Getty Images / Getty Images)
"I'm not of the view that we should make big concessions for the sake of wrapping up negotiations quickly," Ishiba said in parliament, according to Reuters. "In negotiating with the United States, we need to understand what's behind Trump's argument both in terms of the logic and the emotional elements behind his views."
Ishiba and Trump met in Washington, D.C., in February and issued a joint statement in which they affirmed their countries would engage in economic cooperation. They noted that as economic partners, the U.S. and Japan have created high-quality jobs for both of their nations.