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Japan's Trade Envoy Cancels Washington Trip Over Tariff Deal

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1 day ago

Above: Ryosei Akazawa attends a budget committee meeting of an extraordinary session at the Lower House of the Diet on Aug. 4 in Tokyo, Japan. Image copyright: Tomohiro Ohsumi/Getty Images

story last updated 1 day ago

The Spin

Pro-government narrative

The cancellation shows Japan's commitment to getting the details right before finalizing this crucial trade deal. Technical discussions at the working level are essential to ensure both countries understand their obligations and benefits. This careful approach will prevent future misunderstandings and create a stronger foundation for the U.S.-Japan trading relationship.

Prime Minister's Office of Japan

Government-critical narrative

The cancellation of Akazawa's trip reveals poor preparation and coordination failures that could damage the Ishiba administration's credibility. Japanese companies are hemorrhaging money while bureaucratic delays prevent the implementation of agreed tariff reductions. This postponement only prolongs the economic pain for Japanese exporters who desperately need relief.

The Japan News by the Yomiuri Shimbun

Metaculus Prediction

There's a 50% chance that the effective U.S. tariff rate on goods being imported into the United States will be at least 9.96% at the end of 2026, according to the Metaculus prediction community.