Ishiba states no talk with Trump on car tariffs at top

Trump recognises Japan's US big investment, job development

LNG, steel, AI and automobiles are areas Japan can buy US

Nippon Steel will operate under US management, personnel

Japan will not raise defence spending without public assistance

TOKYO, pattern-wiki.win Feb 9 (Reuters) - Japanese Prime Minister Shigeru Ishiba expressed optimism on Sunday that his nation might prevent greater U.S. tariffs, stating President Donald Trump had actually "acknowledged" Japan's big financial investment in the U.S. and the that it creates.

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

The two did not particularly discuss car tariffs, Ishiba said, although he said he did not know whether Japan would undergo the reciprocal tariffs that Trump has actually said he plans to impose on imports.

Tokyo has up until now left the trade war Trump released in his first weeks in workplace. 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 since Trump went back to the White House on January 20 threaten to burst the worldwide economy.

Ishiba said he thinks Trump "acknowledged the truth Japan has actually been the world's biggest investor in the United States for 5 straight years, and is for that reason different from other nations."

"Japan is producing numerous U.S. jobs. I think (Washington) will not go straight to the concept of higher tariffs," he said.

Ishiba voiced optimism that Japan and the U.S. can avoid a tit-for-tat tariff war, worrying that tariffs ought to be put in place in such a way that "benefits both sides".

"Any action that exploits or omits the opposite will not last," Ishiba said. "The concern is whether there is any problem in between Japan and the United States that requires imposing greater 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 current U.S. Commerce Department data.

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

On Sunday, Ishiba determined liquefied gas, gratisafhalen.be steel, AI and automobiles as locations that Japanese business might invest in.

He also touched on Trump's promise to look at Nippon Steel investing in U.S. Steel, as opposed to buying the storied American business - 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 workers," Ishiba said. "The essential point is how to ensure it remains an American business. From President Trump's point of view, this is of utmost significance."

On military spending, another location where Trump has pressed allies for boosts, Ishiba said Japan would not increase its defence budget plan without very first winning public backing. "It is vital to ensure that what is considered essential is something the taxpayers can comprehend and support," he said. (Reporting by Leika Kihara: Additional reporting by Tim Kelly