Japan Mulls Higher US Rice Imports in Tariff Talks, Yomiuri Says

(Bloomberg) -- Japanese Prime Minister Shigeru Ishiba’s government is considering increasing imports of US rice and soybeans as a potential bargaining chip in talks over President Donald Trump’s tariffs, according to the Yomiuri Shimbun.

During trade discussions earlier this week, Washington criticized Japan’s export restrictions and its distribution system for rice, describing them as overly strict and lacking in transparency, the newspaper reported Saturday. The US also called on Japan to boost imports of other agricultural products, including meat, seafood and potatoes, Yomiuri said.

Japan’s chief negotiator Ryosei Akazawa this week kicked off discussions with US counterparts, including Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, aiming to secure an exemption from the levies. Like most other countries, Japan was granted a 90-day reprieve from a 24% across-the-board levy, although a baseline 10% tariff is still in place, along with a 25% rate on cars, steel and aluminum. 

Although no immediate agreement was reached, preparations are underway for a second round of negotiations, according to Japan’s delegation. 

Ahead of the talks, Trump also met with Akazawa, saying after that negotiations have yielded “big progress.” While Akazawa declined to disclose details of the conversation, he confirmed that currency issues were not discussed despite close attention from traders.  

The Yomiuri reported that US officials also raised concerns about perceived unfairness in Japan’s safety regulations on automobiles and the US financial burden in supporting Japan’s defense efforts. These issues align with points raised in the US Trade Representative’s annual National Trade Estimate Report on Foreign Trade Barriers released earlier this month.

According to Yomiuri, Akazawa asked the US delegation to prioritize their concerns in order of importance. A follow-up round of trade discussions is expected to take place by the end of this month.

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