Japanese economic revitalization minister Ryosei Akazawa speaks at a press conference in Washington on Thursday (Aug. 7, 2025). (Jiji Press)
WASHINGTON – Japanese Economic Revitalization Minister Ryosei Akazawa said Thursday that US officials assured him Washington will revise its executive order on so-called reciprocal tariffs “in a timely way.”
Akazawa, Japan’s top negotiator in tariff talks with the United States, expressed disappointment over the move.
“It is extremely regrettable that the 15 percent additional reciprocal tariff was imposed on Japanese goods today,” he told reporters in Washington.
According to Akazawa, US officials said they will refund tariffs collected in excess of the agreed rate, with refunds retroactive to Thursday.
He made the statement after holding separate meetings with US Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent.
The US side also confirmed that the executive order on reciprocal tariffs will be amended at the same time a separate order is issued to reduce the US tariff on Japanese vehicles and auto parts from 27.5 percent to 15 percent.
He said that the US side expressed regret over the procedure in which the executive order on the reciprocal tariffs, which did not align with the Japan-US trade agreement, was issued. (Jiji Press)