Japanese trade minister fails to secure US tariff exemptions: media

TOKYO -- Japanese Minister of Economy, Trade, and Industry Yoji Muto has met with US officials in Washington to seek exemptions from President Donald Trump's planned tariffs on steel, automobiles, and other imports, but failed to secure assurances, local media reported on Tuesday.

Following talks with US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick, Muto said that the officials acknowledged Japan's importance to the American economy, but did not offer guarantees regarding tariff exemptions, Kyodo News reported.

Trump's 25 percent tariffs on steel and aluminum imports are set to take effect this week, with a similar levy on imported cars expected by April 2.

Japan exports about 1.37 million cars annually to the United States, making up 28.3 percent of its total exports to the American market, according to the report.

Muto said Japan will continue to try to protect companies from being hit by the proposed tariffs. "Based on the latest discussions, we will be in close consultation on how we can make the national interests of Japan and the United States a win-win situation," Kyodo cited him as saying.

He emphasized Japan's significant investments in the United States and discussed bilateral economic ties and energy cooperation, including liquefied natural gas development in Alaska.

When asked about the stalled bid by Nippon Steel Corp. to acquire United States Steel Corp., Muto declined to disclose details but expressed confidence that the relevant private-sector parties would advance their coordination on a specific plan.