A mutually beneficial U.S.-Japan tariff agreement is still possible, Treasury Secretary Scott Bessent said on Friday after meeting Japanese Prime Minister Shigeru Ishiba in Tokyo.

Unlike the European Union, the Japanese government has made no indication it plans to impose any kind of reciprocal tariff on the U.S.

Japan's top tariff negotiator Ryosei Akazawa said Saturday he intends to visit the United States possibly early next week for an eighth round of trade talks, before a 25 percent tariff on Japan comes into effect on Aug.

Japanese Prime Minister Shigeru Ishiba met with US Treasury Secretary Scott Bessent in Tokyo on Friday ahead of the scheduled imposition of 25% duty on Japan.

When car maker Mazda sneezes, everyone catches a cold, say people in its hometown of Hiroshima in western Japan, but these days, auto parts maker Yuji Yamaguchi fears a deep chill is on the way.

The U.S. will impose tariffs of 25% on Japan and South Korea beginning on Aug. 1, President Donald Trump announced on Monday in posts on Truth Social.

Exports fell for a second straight month in June, fueling fears that U.S. tariffs will halt Japan’s economic recovery and complicate the central bank’s policy plans.

TOKYO (AP) — Japan’s Prime Minister Shigeru Ishiba faces an increasingly uphill battle in Sunday’s upper house election, and a loss could worsen political instability at a time of daunting challenges, such as rising prices and high U.S. tariffs.

For Americans who were awaiting the release of the Nintendo Switch 2, the delay of U.S. pre-orders for the gaming console this April was one indication of what’s to come.