ISTANBUL
Japan plans to offer the US a cooperation package focused on rare earth elements and liquefied natural gas (LNG) during ongoing tariff talks, aiming to strengthen supply chains affected by rising tensions between Washington and Beijing, Nikkei Asia reported Thursday.
China has restricted exports of seven key rare earth elements and suspended LNG purchases from the US. Japan hopes that by helping address these disruptions, it can secure concessions on American tariffs.
Japan’s top tariff negotiator, Economic Revitalization Minister Ryosei Akazawa, departed for Washington on Thursday for a fifth round of talks regarding US President Donald Trump’s tariff regime, according to Jiji Press.
“We'll continue to strongly urge the United States to review the series of tariff measures,” Akazawa said before leaving Tokyo.
He is scheduled to spend four days in the US, marking his third consecutive week of travel to the country. His objective is to accelerate discussions ahead of a possible meeting between Japanese Prime Minister Shigeru Ishiba and Trump on the sidelines of the Group of Seven (G7) summit in Canada in mid-June.
Akazawa said arrangements were still being finalized regarding his meetings during this round of talks.
Japan has called on the US to lift its 25% import duty on cars. While a 24% reciprocal tariff has been paused, the US continues to apply a 10% baseline tariff along with levies on steel and aluminum.