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Trump acknowledges Japan's US huge financial investment, task creation

LNG, steel, AI and cars are areas Japan can purchase US

Nippon Steel will run under US management, forum.kepri.bawaslu.go.id personnel

Japan will not raise defence spending without public assistance

TOKYO, Feb 9 (Reuters) - Japanese Prime Minister Shigeru Ishiba revealed optimism on Sunday that his nation might avoid higher U.S. tariffs, stating President Donald Trump had actually "acknowledged" Japan's substantial investment in the U.S. and the American tasks that it develops.

At his first White House top on Friday, Ishiba told public broadcaster NHK, he explained to Trump how numerous Japanese car manufacturers were producing jobs in the United States.

The two did not particularly talk about vehicle tariffs, Ishiba said, although he said he did not understand whether Japan would undergo the reciprocal tariffs that Trump has actually said he prepares to trouble imports.

Tokyo has so far left the trade war Trump let loose in his very first weeks in workplace. He has announced tariffs on items from Canada, Mexico and China, although he postponed the 25% duties on his North American neighbours to permit for talks.

The intensifying trade tensions considering that to the White House on January 20 threaten to burst the worldwide economy.

Ishiba said he thinks Trump "recognised the truth Japan has been the world's largest investor in the United States for 5 straight years, and is therefore various from other countries."

"Japan is developing numerous U.S. jobs. I believe (Washington) won't go straight to the concept of greater tariffs," he said.

Ishiba voiced optimism that Japan and the U.S. can avoid a tit-for-tat tariff war, stressing that tariffs must be put in location in a manner that "benefits both sides".

"Any action that makes use of or leaves out the opposite won't last," Ishiba said. "The concern is whether there is any issue in between Japan and the United States that calls for enforcing higher tariffs," he added.

Japan had the greatest foreign direct investment in the United States in 2023 at $783.3 billion, followed by Canada and classifieds.ocala-news.com Germany, according to the most current U.S. Commerce Department information.

Trump pushed Ishiba to close Japan's $68.5 billion annual trade surplus with Washington but revealed optimism this might be done quickly, given a pledge by Ishiba to bring Japanese financial investment in the U.S. to $1 trillion.

On Sunday, Ishiba determined melted natural gas, steel, AI and automobiles as locations that Japanese companies could buy.

He likewise touched on Trump's pledge to look at Nippon Steel buying U.S. Steel, instead of purchasing the storied American business - a prepared purchase opposed by Trump and obstructed by his predecessor, Joe Biden.

"Investment is being made to ensure that it remains an American company. It will continue to operate under American management, with American workers," Ishiba said. "The essential point is how to ensure it remains an American business. From President Trump's viewpoint, this is of utmost value."

On military spending, another location where Trump has actually pushed allies for boosts, Ishiba said Japan would not increase its defence budget without very first winning public support. "It is vital to make sure that what is deemed required is something the taxpayers can comprehend and support," he said. (Reporting by Leika Kihara: Additional reporting by Tim Kelly; Editing by William Mallard)