Press Conference by Minister Muto (Excerpt)

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

9:21 to 9:27 a.m.
Tuesday, June 17, 2025
Press Conference Room, METI Main Building

Opening Remarks

None

Question-and-Answer Session

Japan-U.S. summit meeting

Q: Prime Minister Ishiba held a summit meeting with U.S. President Trump, after which the Prime Minister revealed to reporters that they did not reach an agreement in the Japan-U.S. tariff negotiations. How do you perceive the outcome of no agreement having been achieved, and what is your view on the impact of prolonged negotiations on the business management of Japanese companies?

A: I understand that, before dawn this morning, Japan time, Prime Minister Ishiba and U.S. President Trump held a summit meeting, and concurred that they would instruct the ministers in charge to further advance their discussions on the series of tariff measures. The Government of Japan has been making concerted efforts, primarily led by Mr. Akazawa Ryosei, Minister in Charge of Economic Revitalization, to explore the possibilities of reaching an agreement in line with Japan’s national interests. The Ministry of Economy, Trade and Industry (METI) will continue to devote its full efforts to the tariff negotiations as its top priority in collaboration with Minister Akazawa’s team in pursuit of an agreement that benefits both Japan and the United States.

Q: I would also like to ask you about the tariff negotiations at the Japan-U.S. summit meeting. Prime Minister Ishiba said that the two sides did not come to an agreement on the entire package. If possible, please inform us which parts they concurred on and which parts they didn’t.

A: I would like to refrain from making comments based on speculation about the details of the summit meeting.

Impact of the Middle East situation on a stable energy supply

Q: Amid rising tensions in the situation involving the State of Israel and the Islamic Republic of Iran, I presume Prime Minister Ishiba instructed METI about ensuring a stable energy supply. How does METI intend to address this instruction?

A: Prime Minister Ishiba has instructed METI to “Closely monitor global trends and take all possible measures to secure a stable supply of energy for Japan from the perspective of people’s daily lives.” METI has been collecting information since the attack started, but no problems have been identified at this point regarding imports of oil and natural gas to Japan. Our recognition is that a stable energy supply has not been hindered so far. We are closely following the trends in crude oil prices. As instructed by the Prime Minister, METI will continue taking all possible measures to secure a stable energy supply, while keeping a close watch on the situation with a high level of vigilance.

Impact of U.S. tariff measures on Japanese companies

Q: In relation to the first question, I believe METI’s Comprehensive Response Headquarters for U.S. Tariff Measures has not recognized any significant impact of the U.S. tariff measures on Japanese companies so far, but the people of Japan are probably most concerned about the consequences that may result when the tariff negotiations continue for an extended period of time. Minister Muto, what concerns do you have in this regard? Also, please share again what you wish to pursue in the negotiations going forward.

A: We continue to provide 1,000 consultation counters across Japan and conduct proactive research on the situation.

I have probably talked about this earlier, but we have compiled our second report based on our research and intend to start on our third study in the near future.

Not many immediate concerns have been identified so far, but as I said, we have, indeed, been receiving an increasing number of inquiries about cash flow support, so we will keep a close watch on the situation. Although I cannot make any speculative comments about the summit meeting with President Trump, I understand that the negotiations are making steady progress. July 9 is the deadline for the suspension of additional reciprocal tariffs, so I would like to properly grasp and address the situation, and also intend to ask Prime Minister Ishiba about the situation when he returns to Japan.