Press Conference by Minister Muto (Excerpt)

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

9:33 to 9:38 a.m.
Tuesday, May 27, 2025
In front of the Cabinet Room, 2nd floor, National Diet Building

Opening Remarks

Subsidies for electricity and gas charges

We decided at today's Cabinet meeting to use reserve funds to provide subsidies for electricity and gas charges and to increase grants to local governments for the provision of intensive support. As for subsidies for electricity and gas charges, the subsidies for low-voltage power services will be 2.0 yen per kilowatt-hour of electricity in July and in September and will be 2.4 yen in August, when the use of electricity tends to increase. For an average household, the cost of electricity and city gas will thereby be lowered by about 3,000 yen in total over the three months. Also, based on the past international fuel prices and recent foreign exchange rates, electricity bills for the period from this July to September are expected to be lower relative to last year.

The government has also decided to make effective use of grants to local governments for the provision of intensive support to small and medium enterprises that use extra-high voltage power services and liquefied propane gas. We will inform local governments of this intensive support and related measures. The administrative staff will give a briefing on the details later.

Question-and-Answer Session

Japan-U.S. tariff negotiations

Q: Let me ask you about Japan-U.S. tariff negotiations. Last week, Minister Akazawa visited the United States for the third round of ministerial talks. The minister has announced that the two countries will continue ministerial talks in anticipation of a summit talk at the G7 Summit to be held in June. What is your perception of the outcome and what do you expect from future negotiations?

A: I am aware that Mr. Akazawa Ryosei, Minister in Charge of Economic Revitalization, talked with Secretary of Commerce Howard Lutnick and U.S. Trade Representative Jamieson Greer about trade expansion, non-tariff measures, cooperation for economic security and other topics. I also acknowledge that the two sides confirmed that they will speed up the process to make adjustments to reach a consensus and an agreement that is beneficial to both sides as soon as possible. For ministerial talks, which you have mentioned, the schedule for the next round has not yet been decided, but I understand that the two sides will talk closely with each other, looking ahead to a summit talk at the G7 Summit 2025 to be held in June. We intend to continue to cooperate closely with Minister Akazawa’s team.

Nippon Steel’s plan to acquire U.S. Steel

Q: Please let me ask you about Nippon Steel’s plan to acquire U.S. Steel. President Trump indicated that he would welcome investment by Nippon Steel but did not make any detailed comments about the proposed acquisition. What is your view on this?

A: As you have pointed out, President Trump posted a comment about Nippon Steel’s proposed acquisition of U.S. Steel on social media, which attracted the public’s attention to the issue, and I am aware of the comment given to the press. However, the Government of Japan has not yet made any detailed announcements about the issue, and I would like to wait for an official announcement. Also, with regard to the impact of the issue on the industries, I will refrain from making comments based on speculation, as the government has not yet made any official announcements.

At any rate, I understand that the related parties in the private sector are in the process of examining and adjusting the specific investment plan, and the Government of Japan will help foster communication between the parties as necessary.