Japan Akazawa cancels planned White House trip - reports

Japan Akazawa cancels planned White House trip - reports

Japan's top trade negotiator, Ryosei Akazawa, abruptly canceled a planned trip to Washington aimed at finalizing a joint statement on tariffs with the Trump administration. The decision comes amid ongoing disputes over the implementation of the agreement reached in July. Chief Cabinet Secretary Yoshimasa Hayashi announced the postponement, citing the need for further consultations on certain details [1].

In July, Japan and the United States agreed to a 15% tariff on most Japanese goods, down from the earlier 25% rate imposed by President Donald Trump. However, Japanese officials later discovered that the preliminary deal would add an additional 15% tariff to other tariffs, leading to objections. While Washington acknowledged the mistake and agreed to abide by the 15% tariff, the refund of excess import duties has not yet been implemented [1].

Hayashi emphasized the need for the U.S. to amend its presidential order to correct the reciprocal tariffs and lower tariffs on autos and auto parts. He underscored the importance of the agreement for both countries' economic security [1]. Despite the postponement, Japan and the United States have confirmed the importance of promptly implementing the agreement [1].

Separately, OKX, a major cryptocurrency exchange, has received full regulatory approval from the Japan Financial Services Agency (FSA). The approval positions OKX Japan as one of the top three exchanges in the country, reflecting both user trust and the platform's growing influence. The full FSA approval enables OKX Japan to operate with complete regulatory clarity, offering local users confidence in trading, custody, and other crypto-related services [2].

References:
[1] https://apnews.com/article/japan-us-tariffs-trade-trump-d6fd859e1343663d0a734eb89ee5ac2a
[2] https://coinfomania.com/okx-japan-receives-full-fsa-approval-ranks-top-3-in-country/