Tokyo: Japanese Prime Minister Shigeru Ishiba emphasized the importance of a rules-based, free, and multilateral trade system amid growing tensions over US tariffs. Speaking at a global forum in Tokyo on May 29, 2025, Ishiba warned that high tariffs do not foster economic prosperity and highlighted Japan's commitment to expanding the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a key Asia-Pacific trade group.
"High tariffs will not bring economic prosperity," Ishiba said. "A prosperity built on sacrifices by someone or another country will not make a strong economy." He called for collaboration with the United States to boost investment, create jobs, and manufacture high-quality products to promote shared prosperity globally.
Ishiba's remarks coincide with Japan's chief tariff negotiator, Ryosei Akazawa, engaging in the fourth round of trade talks in Washington, DC. The discussions aim to persuade the US to remove recent tariff measures. Although Japan has yet to secure tariff concessions, officials are reportedly considering increased purchases of US agricultural products and defense equipment as negotiation tools.
Later on the same day, Ishiba held a telephone conversation with US President Donald Trump to discuss the ongoing talks. Ishiba said the interaction has fostered a "deeper understanding" between the two leaders, but Japan's stance on tariffs remains unchanged. He refrained from disclosing further details.
Akazawa noted that Japanese defense equipment purchases could factor into trade negotiations, contributing to the US trade surplus, but stressed that Japan's security policy would not be subject to trade deal conditions.
In his speech, Ishiba also urged Asian nations to uphold "the importance of rules-based, free and fair economic order," calling on them to support and advance the CPTPP. The agreement includes 12 countries: Japan, the United Kingdom, New Zealand, Australia, Brunei, Canada, Chile, Malaysia, Mexico, Peru, Singapore, and Vietnam. The US is not a member.
Japan is committed to further expanding and enhancing the CPTPP framework, highlighting its dual role in fostering economic growth and promoting regional peace and stability. While Japan strengthens economic ties with Southeast Asia and Europe, it continues to consider the United States as central to its security strategy.
