May 20, 2025

 

Japan PM signals increasing corn imports as part of US trade talks

 

Japanese Prime Minister Shigeru Ishiba signalled that increasing corn imports from the US would be among the options in trade negotiations with Washington.

 

Speaking in parliament, Ishiba repeated that Japan won’t sacrifice the domestic agriculture industry for the sake of winning US tariff concessions for automobiles.

 

"Still, Japan can use corn not for consumption but for use as ethanol fuel. Usage as biomass would be in Japan's national interest," Ishiba said, adding that Japanese soil was not necessarily suited for corn production anyway.

 

"We hope to deepen discussion on whether to use corn for consumption or energy," Ishiba said without elaborating.

 

The US exported US$2.8 billion worth of corn to Japan in 2024, to counter an 80% drop in exports to China.

 

Japan has made little headway in trade talks with the US as it seeks exemptions from US tariffs, including on its mainstay automobiles.

 

Japan's top trade negotiator, Ryosei Akazawa, made his second visit to Washington earlier this month with working-level consultations between the two countries now under way.

 

On April 2, US President Donald Trump imposed a 10% tariff on all countries except Canada, Mexico and China, along with higher tariff rates for many big trading partners, including Japan, which faces a 24% tariff rate starting in July unless it can negotiate a deal with the US.

 

The tariffs, including a 25% tariff on imported cars, are already weighing heavily on the Japanese economy.

-      Asahi Shimbun