'Japan, US can reach a good trade deal'

BloombergLast Updated: Jul 19, 2025, 12:58:00 AM IST

Synopsis

Japanese Prime Minister Shigeru Ishiba conveyed that US Treasury Secretary Scott Bessent expressed confidence in reaching a favorable trade agreement between the two countries. Ishiba encouraged continued vigorous discussions between negotiators to achieve a mutually beneficial outcome. While specific trade details weren't discussed due to the visit's broader purpose, both sides acknowledged areas for economic and security cooperation.

Japanese Prime Minister Shigeru Ishiba said that US Treasury Secretary Scott Bessent told him that the two nations will be able to reach a good trade deal.

Ishiba urged Bessent to continue talks vigorously with Japan's chief negotiator Ryosei Akazawa to achieve a mutually beneficial agreement. The two sides didn't discuss specifics on trade as a Aug 1 deadline for higher levies approaches, Ishiba told reporters after meeting Bessent in Tokyo on Friday. "There are many areas in which Japan and the United States should cooperate in the fields of economy and security," Ishiba said. "Secretary Bessent stated that a good agreement would be reached."

Bessent, who is in Japan for the first time since taking his current position, will attend the US National Day at the World Expo in Osaka on Saturday. As trade was not the main purpose of his visit, the two sides didn't delve deeply into the subject, according to Akazawa.