Press Conference by Minister Muto (Excerpt)

*Note: This is a provisional translation for reference purposes only.

2:54 to 3:04 p.m.
Friday, February 28, 2025
Press Conference Room, METI Main Building

Opening Remarks

Price Negotiation Promotion Month campaign in March 2025

March, which starts tomorrow, is the Price Negotiation Promotion Month. Amid ongoing price increases, it is extremely important for companies to implement price negotiations and price pass-through as efforts to achieve wage increases that are higher than the price increases. During this campaign, I will send a video message to order-placing and order-receiving companies.

In this video message, I will request order-placing companies to proactively respond to price negotiations and price pass-through with their business partners. In addition, I will encourage the order-receiving companies to take on price negotiations and price pass-through, aiming to thoroughly disseminate price pass-through to the end of supply chains.

I will also request that SMEs on the order-receiving side ask their order-placing companies to address price negotiations. I hope that it will advance price pass-through in as many companies as possible.

For details, I would like businesses to visit relevant websites, including the website of the Small and Medium Enterprise Agency and the Mirasapo Plus website. Moreover, the SMEA website provides useful information, including guidelines on labor costs. I hope that many companies proactively make use of these assets.

Question-and-Answer Session

U.S. President Trump’s statement of additional tariffs

Q: Last night, Japan time, President Trump stated that the U.S. will execute tariffs against Mexico and Canada on March 4 and also said that the U.S. will impose additional tariffs against China. The impact on stock prices in both the U.S. and Japanese markets has already been spreading. Could you comment again about your views on this and Japan’s approaches to the U.S. regarding these tariff measures?

A: I recognize that new press reports about President Trump’s statements are being released almost every day, including those on various additional tariffs. As I told at the session of the Diet today, we have received a variety of opinions from industries regarding this. For example, representatives of the automobile and parts associations as well as stakeholders in the iron and aluminum industries presented their opinions. They explained the seriousness of this issue and requested that the government strongly direct the attention of the U.S. to the Japanese automobile industry’s contribution to the country to date as well as to the variety of Japan’s measures that have contributed to the country to date.

Although my visit to the U.S. has not yet been finalized, I believe that going forward, we should take into account the national interests not only of Japan but also those of the U.S., as the Prime Minister stated. In this context, if my visit is decided, I assume that first I will probably take on the first round of negotiations in such a way that Japan and the U.S. can achieve a win-win relationship. I hope that I can carefully respond to this issue.