Japan’s trade negotiator cancels US visit over tariffs

Japan’s top trade negotiator cancelled a visit to the United States at the last minute on Thursday, further delaying talks designed to finalize a $550-billion investment package offered by Tokyo in exchange for relief on punishing tariffs.

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Ryosei Akazawa was due to fly to Washington to craft a written confirmation of the terms of the package, such as the split of investment returns between the US and Japan, a government source previously told Reuters.

US Commerce Secretary Howard Lutnick has also said there would be an announcement this week on Japan’s investment.

“It was found that there are points that need to be discussed at the administrative level during coordination with the American side. Therefore, the trip has been cancelled,” Japan’s government spokesperson Yoshimasa Hayashi told reporters on Thursday.