‘New Golden Age Of Global Trade’: Bessent Opens Negotiations With Japan Following Trump’s Tariffs

U.S. Treasury Secretary Scott Bessent was tapped by President Donald Trump on Monday to begin negotiations with Japan after Trump imposed a 24% tariff on the United States trading partner.

Bessent wrote on X that Trump had “a very constructive phone discussion” with Japanese leaders, and the two countries will continue negotiations “to implement the President’s vision for the new Golden Age of Global Trade.” Bessent added that he, along with the U.S. Trade Representative, will seek to come to an agreement with Japanese Prime Minister Shigeru Ishiba “and his Cabinet.”

“Japan remains among America’s closest allies, and I look forward to our upcoming productive engagement regarding tariffs, non-tariff trade barriers, currency issues, and government subsidies,” he added. “I appreciate the Japanese government’s outreach and measured approach to this process.”

Bessent’s post came after Trump wrote on Truth Social that Ishiba “is sending a top team to negotiate,” adding that Japan has “treated the U.S. very poorly on Trade.”

“They don’t take our cars, but we take MILLIONS of theirs,” Trump added. “Likewise Agriculture, and many other ‘things.’ It all has to change, but especially with CHINA!!!”

Following a very constructive phone discussion with the Government of Japan, @POTUS @realDonaldTrump has tasked me and @USTradeRep to open negotiations to implement the President’s vision for the new Golden Age of Global Trade with @JPN_PMO Shigeru Ishiba and his Cabinet. https://t.co/oSXTh5ONOe

— Secretary of Treasury Scott Bessent (@SecScottBessent) April 7, 2025

Ishiba said on Monday that during the phone call with Trump, he urged the president to rethink his tariff policies.

“I’ve told the President that Japan has been the biggest investor in the United States for five straight years and the tariff policies could hurt our Japanese companies’ investment capabilities,” Ishiba said.

Along with the 24% tariff on Japanese imports that Trump announced last week, the Asian country’s large auto manufacturing industry will also be affected by Trump’s 25% tariff on auto imports. Japan is one of the world’s largest auto manufacturers and is home to major car companies such as Toyota, Nissan, Honda, Subaru, Mitsubishi, and Mazda.

In his social media post, Bessent said numerous countries are seeking to negotiate with the Trump administration and blasted China for choosing “to isolate itself by retaliating and doubling down on previous negative behavior.” The Treasury Secretary said that negotiations with over 50 countries will take place “over the coming weeks.” Trump’s so-called reciprocal tariffs are set to go into effect on Wednesday.

Among those interested in discussing a new trade deal, the European Union said on Monday that it offered the United States “zero-for-zero tariffs for industrial goods.” Vietnam also signaled that it wants to cut tariffs to zero, according to Trump.