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1 Japan pM Ishiba, after Meeting Trump, Voices Optimism Over Averting

Ishiba states no talk with Trump on auto tariffs at summit

Trump acknowledges Japan's US substantial financial investment, task development

LNG, steel, AI and autos are areas Japan can invest in US

Nippon Steel will operate under US management, personnel

Japan will not raise defence costs without public support

TOKYO, wifidb.science Feb 9 (Reuters) - Japanese Prime Minister Shigeru Ishiba revealed optimism on Sunday that his country might prevent higher U.S. tariffs, stating President Donald Trump had "identified" Japan's substantial investment in the U.S. and the American tasks that it produces.

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

The 2 did not particularly go over car tariffs, Ishiba said, although he said he did not understand whether Japan would undergo the mutual tariffs that Trump has said he plans to trouble imports.

Tokyo has up until now escaped the trade war Trump unleashed in his first weeks in office. He has actually revealed tariffs on items from Canada, Mexico and China, gratisafhalen.be although he delayed the 25% tasks on his North American neighbours to enable talks.

The escalating trade stress considering that Trump went back to the White House on January 20 threaten to burst the global economy.

Ishiba said he thinks Trump "identified the reality Japan has been the world's biggest investor in the United States for five straight years, and is therefore various from other nations."

"Japan is producing many U.S. jobs. I believe (Washington) won't 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 must be put in place in such a way that "benefits both sides".

"Any action that makes use of or omits the opposite will not last," Ishiba said. "The question is whether there is any issue between Japan and the United States that necessitates enforcing greater tariffs," he included.

Japan had the highest foreign direct 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 information.

Ishiba to close Japan's $68.5 billion annual trade surplus with Washington but expressed optimism this might be done quickly, given a guarantee by Ishiba to bring Japanese investment in the U.S. to $1 trillion.

On Sunday, Ishiba recognized melted gas, steel, AI and automobiles as locations that Japanese companies could buy.

He also discussed Trump's promise to look at Nippon Steel buying U.S. Steel, as opposed to buying the storied American business - a planned purchase opposed by Trump and blocked by his predecessor, Joe Biden.

"Investment is being made to ensure that it remains an American company. It will continue to run under American management, with American workers," Ishiba said. "The essential point is how to ensure it remains an American company. From President Trump's viewpoint, this is of utmost significance."

On military spending, another area where Trump has actually pressed allies for increases, Ishiba said Japan would not increase its defence spending plan without very first winning public support. "It is essential to guarantee that what is deemed required is something the taxpayers can comprehend and support," he said. (Reporting by Leika Kihara: Additional reporting by Tim Kelly