US Treasury Secretary to begin trade talks with Japan, criticizes Chinese retaliation and isolation

On Monday (April 7th), President Trump had a phone call with Japanese Prime Minister Shinsuke to discuss tariff issues, and they agreed to send high-level teams for trade negotiations. The U.S. Treasury Secretary, Scott Bessent, subsequently stated that he would engage in negotiations with the Japanese team alongside the U.S. Trade Representative. Bessent also criticized China’s retaliatory tariffs against the U.S., calling it an act of isolation.

In a post on the social media platform X, Bessent mentioned, “Following a very constructive phone call with the Japanese government, President Trump has tasked me and the U.S. Trade Representative to negotiate with Japanese Prime Minister Shinsuke and his cabinet to realize the President’s vision for a new golden era of global trade.”

“Japan remains one of the closest allies of the United States, and I look forward to our forthcoming productive discussions on tariffs, non-tariff trade barriers, currency issues, and government subsidies,” the Treasury Secretary said.

He also praised Japan for its cautious approach in responding to the U.S. tariffs.

Last Wednesday (April 2nd), Trump announced the implementation of reciprocal tariff measures on various countries, including imposing a 24% equivalent tariff on Japanese goods, along with a 25% tariff on all imported cars and components, which will have a significant impact on the Japanese economy.

Japanese Prime Minister Shinsuke stated that Japan would not adopt a confrontational approach with the United States but instead seeks to present a comprehensive plan to the Trump administration to demonstrate what a close ally like Japan can offer, emphasizing the contributions Japan makes to job creation in the U.S. through investments.

Shinsuke also questioned the impact on the global economy if retaliatory tariff measures were taken. Considering Japan’s interests, he urged against discussing retaliatory tariffs.

While praising Japan, U.S. Treasury Secretary Bessent condemned China’s isolationist actions. He stated that Beijing had chosen to “isolate itself by retaliating and doubling down on past negative behaviors.”

“Over 50 countries have responded openly and positively to Trump’s historic actions aimed at creating a fairer and more prosperous global trade system. We look forward to engaging in meaningful negotiations with them in the coming weeks,” the Treasury Secretary added.

Meanwhile, President Trump reiterated on Monday that if China does not withdraw its retaliatory 34% tariff on U.S. goods by Tuesday (April 8th), the U.S. will impose an additional 50% tariff on Chinese goods starting from April 9th.