Minister Moto will meet with US Secretary of Commerce Howard Lutnick, Secretary of Energy Chris Wright and other senior officials. The talks will focus on Japan's plans to increase its natural gas purchases from the US and Nippon Steel's attempt to acquire U.S. Steel.
Japan announced its request for exemption from steel and aluminum tariffs last week. After US President Donald Trump announced in April that he would impose 25% tariffs on auto imports, Japanese officials reminded Washington that the Japanese automotive industry is critical to the country's economy.
Japanese automakers such as Toyota, Honda and Nissan, together with their suppliers, employ more than 5 million people in the country. This is about 8% of the total labor force in Japan. The transportation machinery sector, including automobiles, accounts for about 3% of the country's Gross Domestic Product (GDP). Around 90% of companies in Japan believe that the Trump administration's policies will harm the business environment.
While Moto plans to visit Washington before the 25% tariffs on steel and aluminum imports take effect, the visit schedule may change depending on the parliamentary budget talks in Japan.
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