Press Conference by Minister Muto (Excerpt)

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

9:56 to 10:06 a.m.
Friday, May 30, 2025
Press Conference Room, METI Main Building

Opening Remarks

None

Question-and-Answer Session

Japan-U.S. tariff negotiations

Q: Let me first ask about Japan-U.S. tariff negotiations. Mr. Akazawa Ryosei, Minister in Charge of Economic Revitalization, is engaging in the fourth round of ministerial tariff talks today, and he has indicated that he is exploring another opportunity to have negotiations with the United States during his visit to attend the OECD Ministerial Council Meeting. As Minister of Economy, Trade and Industry, how do you view the progress of the ongoing negotiations? Please share your perception about the U.S. Court of International Trade’s ruling against the tariffs and the subsequent U.S. Court of Appeals for the Federal Circuit’s granting an administrative stay.

A: I am aware that Minister Akazawa is visiting the United States for the fourth round of tariff negotiations. I hope that the United States and Japan reach a mutually beneficial agreement through productive discussions.

I acknowledge that the trade court issued its ruling and the appeals court granted a stay, as you pointed out. We will pay close attention to the U.S. tariff measures and appropriately deal with their developments.

Q: I would like to clarify one more point about the tariff talks. As part of the tariff talks, the Government of Japan has reportedly proposed purchasing billions of dollars’ worth of U.S. semiconductor products. We would like to know if this report is true. If the purchase of U.S. semiconductors is included in a bilateral agreement, what impact would you expect on the Japanese semiconductor industry, including Rapidus?

A: Although I am aware of the media report, I will refrain from commenting on the details of discussions during the U.S.-Japan tariff talks for diplomatic reasons.

As I answered at the Committee on Economy, Trade and Industry, we project that the global demand for cutting-edge semiconductors will significantly exceed global supply, with the start of mass production by Rapidus scheduled for fiscal 2027. I believe that the Rapidus project will not be affected by whether or not Japan purchases semiconductors from the United States.

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

Q: Regarding Nippon Steel's plan to acquire U.S. Steel, President Trump has stated that he approves the partnership between the two companies, while also saying that the United States would have control of U.S. Steel. According to some news reports, Nippon Steel may offer the Government of the United States a “golden share” in U.S. Steel. As Minister, what are your thoughts about the situation and what outcome do you expect?

In connection with my questions, it seems that the Japanese steelmaker has been placed under undue political influence in its merger process. Do you think that this may have an impact on future investment by Japanese companies in the United States?

A: I am aware of the series of reports you have mentioned. Once again, I would like to refrain from commenting on the business management of individual companies. I believe that specific investment projects should be examined and coordinated by private-sector stakeholders, and the government is poised to serve as a facilitator for communication among stakeholders as necessary.

Regarding the outlook of Japanese investment in the United States, I must admit that the ongoing tariff uncertainty is posing great concern to automobile and other Japanese industries, given their significant contributions to and investments in the United States thus far.

We hope that Minister Akazawa will lead the negotiations with the United States to reach a win-win agreement for both countries in a way that allows private companies to predict the business climate to a certain extent.

Alaska Sustainable Energy Conference

Q: I heard that an energy conference will take place in the U.S. state of Alaska in early June, and the Alaska LNG project is expected to come up for discussion. Will anyone from METI be attending the conference? I would like to ask about METI's current stance on the Alaska LNG project.

A: Vice-Minister for International Affairs Matsuo Takehiko will participate in the Alaska Sustainable Energy Conference to be held in Alaska as METI’s representative.

With regard to the Alaska LNG project, Japan has been in contact with the Government of the United States and relevant companies regarding the construction of pipelines and other details. I anticipate truly meaningful discussions at the conference. I would like to refrain from making further comments at this point.