Tariffs Impact Economy; Shigeru Ishiba: Phone Call with Trump Possible as Early as Next Week | WPN World People News

After U.S. President Trump announced reciprocal tariffs and additional auto tariffs, Japanese Prime Minister Shigeru Ishiba stated on the 5th that he is actively in talks with the U.S. and may hold a phone call with Trump as early as next week.

President Trump recently announced the implementation of reciprocal tariffs on various countries, including a 24% tariff on Japanese goods and a 25% tariff on imported vehicles and auto parts, which could have a significant impact on the Japanese economy. According to NHK, on the 4th, Ishiba held a cross-party leaders' meeting at the National Diet Building that lasted around 50 minutes.

Later, in an interview with Yomiuri TV, Ishiba said: “I hope to have a phone call with President Trump next week. I want him to understand how much Japan can contribute to revitalizing American manufacturing and creating jobs.” Regarding how to negotiate with the U.S., Ishiba emphasized that merely seeking an exemption for Japan would not be viable. Instead, Japan will propose a comprehensive plan that may include discussions on liquefied natural gas (LNG), automobiles, agriculture, and security.

When asked whether Japan would impose retaliatory tariffs on U.S. goods, Ishiba responded, “What would happen to the global economy if we engaged in retaliatory tariffs? We must consider Japan’s national interest. Rather than talking about retaliatory tariffs, we should emphasize that Japan is the largest investor in the United States, unlike countries that neither invest in nor create jobs in America.”

As for measures to address rising prices, Ishiba was asked whether lowering the consumption tax rate would be included in his party’s platform for this summer’s House of Councillors election. He replied that various options are being considered, but emphasized that any tax cuts would require careful consideration of how to secure funding for social welfare programs.