Overview
- Ryosei Akazawa scrapped a planned Washington visit at the last minute, with Japan saying outstanding technical issues must be handled at the administrative level first.
- He had been expected to work on a written confirmation covering the $550 billion in U.S.-bound investment and how returns would be split between the two countries.
- U.S. Commerce Secretary Howard Lutnick has said an announcement on the package is still expected this week, even as working‑level talks continue.
- U.S. officials have agreed to amend the July 31 executive order so a 15% levy does not stack on higher duties, while Tokyo also presses for orders lowering tariffs on autos and parts and for refunds of excess duties collected.
- The July framework set a 15% tariff on most Japanese goods in exchange for government‑backed investment pledges, but legal text, governance and profit‑sharing terms remain unsettled as Japan’s export slump and downgraded growth outlook add urgency.