Fourth Round of Japan-US Tariff Talks Ends with Progress Toward Agreement

WASHINGTON DC, May 31 (News On Japan) - Japan and the United States held their fourth ministerial-level talks on tariffs on May 30th, with Economic Revitalization Minister Akazawa stating that "progress toward an agreement was confirmed" during the meeting.

Akazawa said, "Japan and the United States have fully acknowledged each other’s positions and confirmed that discussions toward a deal are moving forward."

He made the remarks after holding about two hours of talks with Treasury Secretary Bessent and others. However, he repeatedly declined to disclose the specifics of the progress made. He also revealed that both sides agreed to hold the next round of ministerial talks before the G7 summit, which will take place in Canada in mid-June.

During the talks, Akazawa said he once again strongly urged the United States to reconsider its series of tariff measures. He reiterated Japan’s position that a full retraction of the Trump administration’s tariffs is essential for reaching a bilateral agreement.

Japan-Bound Tanker Clears Strait of Hormuz

An Idemitsu Kosan crude oil tanker has safely passed through the Strait of Hormuz, becoming the first vessel bound for Japan to do so since attacks on Iran heightened tensions in the region and effectively disrupted maritime traffic.

Golden Week Crowds Seen From Above

Japan’s Golden Week holiday period got fully underway on April 29, drawing large crowds to major tourist destinations and airports, where long lines formed as overseas travel surged.

Giant Bears Return to Hokkaido

A series of sightings involving unusually large brown bears in Hokkaido has heightened concerns among local residents, with one 330-kilogram animal captured in Tomamae and another 280-kilogram bear attacking a hunter in Shimamaki.

Golden Week Travel Kicks Off

Full-scale Golden Week travel began on April 29, with Chubu Centrair International Airport experiencing its busiest outbound travel day of the holiday period. The airport was crowded from the morning with vacationers heading overseas.

Japan Faces Higher Power and Gas Bills

Electricity and gas bills for usage in May will rise slightly in Japan, with the impact of tensions involving Iran expected to appear in utility charges from June onward. Larger increases could follow in subsequent months.

MEDIA CHANNELS

MORE Business NEWS

Japan Faces Higher Power and Gas Bills

BOJ Keeps Interest Rate at 0.75% for Third Straight Meeting

The Bank of Japan decided to leave interest rates unchanged, opting against an additional rate hike for now, after its monetary policy meeting concluded earlier with a majority vote to maintain the policy rate at 0.75%, marking the third consecutive meeting at which rates were left unchanged.

Hot Springs Cut Operating Hours as Fuel Supply Tightens

Shizuoka City said it will shorten operating hours at three municipally run hot spring facilities from May 7 for the time being, after instability in heavy oil supplies linked to the situation in Iran.

Tomato Growers Face Fresh Squeeze as Costs Climb

Prolonged tensions in the Middle East are beginning to affect everyday vegetables in Japan, with tomato farmers facing higher costs and shortages of packaging materials.

Closure of Strait of Hormuz Hits Japan Car Exports

The impact of the effective closure of the Strait of Hormuz is spreading to Japan's export industries, dealing a fresh blow to automakers and other companies reliant on Middle East trade routes.

Tokyo Stocks Surge to New High

The Nikkei Stock Average rose by more than 1,100 points at one stage in trading on the Tokyo Stock Exchange on Monday. Following gains in semiconductor-related shares on the New York market on June 24, buy orders flowed into AI and chip-related stocks in Tokyo, lifting the Nikkei back above the 60,000 level.

Japan Cuts Refinery Runs as It Races to Replace Middle East Crude

Japan has reduced refinery operating rates as it scrambles to secure alternative crude supplies following disruptions to shipments through the Strait of Hormuz, underscoring the growing strain on one of Asia’s most import-dependent energy markets.

US Crude Oil Arrives in Japan as Alternative Supply

American crude oil secured as an alternative supply source has arrived in Japan for the first time, as the de facto closure of the Strait of Hormuz makes procurement from the Middle East increasingly difficult.

< 2 3 4 5 >