Japan’s Trade Minister Yoji Muto plans to visit the U.S. in March, aiming to secure exemptions from the Trump administration’s proposed tariffs on steel and car imports, according to Asahi newspaper. Muto is coordinating meetings with U.S. Commerce Secretary Howard Lutnick, Energy Secretary Chris Wright, and other top officials to discuss trade concerns and Japan’s interest in increasing American natural gas imports.
Tokyo has urged Washington to exclude Japan from steel and aluminum tariffs, Muto stated last week. Concerns over U.S. President Donald Trump’s proposed 25% tariff on car imports, set to begin in April, have also intensified, with Japan emphasizing the auto industry’s significance to its economy. Toyota (NYSE: TM), Honda (NYSE: HMC), and Nissan (OTC: NSANY), along with their suppliers, employ over 5 million people, accounting for 8% of Japan’s workforce. The transport machinery sector contributes about 3% of the nation’s GDP, underscoring the economic impact of these tariffs.
Japan’s business sector remains wary, with nearly 90% of major firms considering Trump’s trade policies harmful, according to a Reuters survey. Additionally, Muto is expected to raise concerns over Nippon Steel’s stalled bid to acquire U.S. Steel.
Muto aims to visit before March 12, the scheduled start of steel and aluminum tariffs, though his plans may shift depending on Japan’s parliamentary budget sessions, Asahi reported, citing government sources.
By addressing trade concerns, Japan hopes to mitigate economic risks while strengthening ties with the U.S. The outcome of Muto’s negotiations could significantly impact key industries and bilateral trade relations.