TOKYO (Reuters) -Japan's top trade negotiator Ryosei Akazawa canceled a planned visit to the United States as there are some points that need to be addressed at a working level before ministerial
Japan's Trade Negotiator Akazawa Postpones US Visit Amid Talks
Japan-US Trade Negotiation Developments
TOKYO (Reuters) -Japan's top trade negotiator Ryosei Akazawa canceled a planned visit to the United States as there are some points that need to be addressed at a working level before ministerial talks, Kyodo news agency reported on Thursday.
Details of the Investment Package
Akazawa initially planned to visit the U.S. on Thursday to craft a written confirmation of the financial details of the $550 billion U.S.-bound investment package, such as the split of returns between the U.S. and Japan.
Tariff Agreements and Concerns
U.S. Commerce Secretary Howard Lutnick has also said there would be an announcement this week on Japan's $550 billion investment.
Next Steps in Negotiations
Washington and Tokyo agreed in July to set a reduced 15% tariff on imports from Japan in exchange for the package of U.S.-bound investment through government-backed loans and guarantees, but details of its contents remain obscure.
Japanese officials have repeatedly said they would rather have an amended presidential executive order first to remove overlapping tariffs on Japanese goods before releasing a joint document on the investment details.
The United States has agreed to amend the July 31 presidential order to ensure that a 15% levy agreed last month on Japanese imports was not stacked on goods, such as beef, that are subject to higher tariffs.
(Reporting by Kaori Kaneko and Makiko Yamazaki; Editing by Jamie Freed and Kim Coghill)
