In recent comments, Suntory Chairman Takeshi Niinami criticized Japan's approach in negotiations with the US on tariffs, emphasizing the need for a more flexible stance.
Mistake in Negotiation Strategy
Takeshi Niinami criticized Japan's strategy, calling it a 'big mistake' to demand complete relief from tariffs proposed by President Trump. He noted that this stance left American negotiators feeling 'betrayed.'
Critique of Japanese Positions
According to Niinami, it would have been better to agree to a minimum tariff rate of 10%, which could have led to more favorable conditions. He expressed that the Japanese side underestimated Trump's determination, thinking time was on Japan's side. 'It was a big mistake,' he added.
Markets and Economic Impact
With 25% tariffs looming, Niinami warns that Japan's negotiating power is weaker, which may force concessions. He also highlighted that with the upcoming July 20 election, the Japanese government has less time to reach an agreement. The situation is exacerbated by the US's recent imposition of 25% tariffs on Japanese imports.
The need for a more flexible approach in negotiations with the US is emerging as a critical issue for Japanese business leaders. Otherwise, the country risks facing significant economic consequences.
