Press Conference by Minister Muto (Excerpt)

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

9:10 to 9:16 a.m.
Tuesday, May 13, 2025
Press Conference Room, METI Main Building

Opening Remarks

None

Question-and-Answer Session

U.S.-China agreement on tariffs

Q: At the first ministerial meeting between the United States and China on tariffs imposed by the U.S. Trump Administration, both sides agreed on lowering their tariffs by 115 percentage points, among other matters. What is your perception of this agreement?

As the U.S.-China talks progress, the Japanese government may face scheduling difficulties with U.S. secretaries. What are your views about the impact of the talks on the Japan-U.S. trade negotiations?

A: I am aware that the U.S. and Chinese governments agreed to a temporary suspension of their mutual tariffs as a result of their ministerial trade negotiations, as you pointed out. I will refrain from making evaluative comments on the status of each discussion and on the details of the agreements between the United States and a third country, but I understand that the United States and China will continue with their negotiations. We will pay close attention to how the talks progress.

The positions and circumstances of countries vary widely. I would like to refrain from making any predictions on how other countries’ discussion status will affect the Japan-U.S. talks.

We will make all-out efforts to reach an agreement at an early date while protecting the national interests of Japan.

Q: Yesterday, following the U.K. government, an agreement was reached between the U.S. government and the Chinese government to reduce tariffs. I believe we may see similar agreements or other outcomes of trade negotiations going forward.

The Japanese government has been using the phrase, “Make haste slowly.” You mentioned that the positions of countries vary widely, but what are your views about the current situation where agreements are being reached successively by different countries?

A: You are asking about my view on the impact of the agreements between the U.S. and different countries on the global economy and so forth, but as you know, stock prices are skyrocketing again today after the United States and China issued their joint statement. I am also aware that the yen is weakening. Such trends are shaped by the market based on various factors including economic conditions, so I would like to refrain from making any comments. I understand that the United States and China will continue negotiating, and we must keep a close eye on how the bilateral talks progress, as well as on the relationship between the United States and the United Kingdom, including their impact on the global and Japanese economies.