Japanese officials have repeatedly said they would rather have an amended presidential executive order first to remove overlapping tariffs on Japanese goods before releasing a joint document on the investment details.
The United States has agreed to amend the Jul 31 presidential order to ensure that a 15 per cent levy agreed last month on Japanese imports was not stacked on goods, such as beef, that are subject to higher tariffs.
US officials have also said Trump would issue another order to lower tariffs on Japanese cars to 15 per cent from 27.5 per cent, but did not specify when.
“We are strongly requesting that measures be taken to amend the presidential order concerning mutual tariffs as soon as possible, and to issue a presidential order to reduce tariffs on auto parts,” Hayashi added.
Japan’s exports posted the biggest monthly drop in four years in July, driven by a slump in shipments to the United States. Reflecting the tariff damage, Japan cut its growth outlook for the year from 1.2 per cent to 0.7 per cent earlier this month.
Akazawa could head to Washington as early next week after the outstanding issues were resolved, a government source familiar with the negotiations said.
