Japan trade minister Muto is to visit US for tariff exemption.
Japan’s Economy, Trade, and Industry Minister Yoji Muto is set to visit the United States as early as March 10 for discussions with U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer, the Asahi Shimbun reported on Tuesday, citing multiple sources.
Muto plans to request exemptions from the additional tariffs on Japanese products, including automobiles and steel, proposed by U.S. President Donald Trump. The talks will also likely address Nippon Steel Corp.’s bid to acquire U.S. Steel, a historic American steelmaker.
Nippon Steel Corp.’s bid to acquire U.S. Steel, a storied American steelmaker, will likely come up for discussions. Trump’s predecessor, Joe Biden, blocked the deal, citing national security concerns.
After the summit with Ishiba, Trump indicated that he would not approve Nippon Steel’s purchase of a majority of shares in U.S. Steel and stated that Nippon Steel may invest in U.S. Steel but can not acquire it.
The Japanese government aims to send Muto before March 12, when the 25 percent tariffs on steel and aluminum products are scheduled to take effect.