Japan's top trade negotiator, Ryosei Akazawa, canceled a US trip due to unresolved issues with the US-Japan trade deal. The disagreement centers on US tariffs, specifically a lack of written confirmation reducing auto tariffs to 15% from 25%, despite previous promises. Japan seeks a swift amendment to the presidential order on reciprocal tariffs to avoid tariff stacking beyond 15%. While the trip might be rescheduled soon, a Bank of Japan official warned of potential negative impacts on Japanese exports, industrial production, and corporate profits due to the tariff uncertainty.

Prepared by Christopher Adams and reviewed by editorial team.