Trump signs trade, rare earths deal with Japan’s first woman PM Sanae Takaichi: 5 points

US President Donald Trump met Japan’s newly chosen conservative leader and first female Prime Minister, Sanae Takaichi, on Monday. The two leaders signed a framework for securing the supply of critical minerals and rare earths. The deal was signed during the US president visit to Tokyo on an Asia trip.

Earlier, the White House said the US and Japan will work to secure their critical minerals and rare earths supply chains by addressing “non-market policies and unfair trade practices.”

Takaichi and Trump were also expected to finalise a trade deal. Takaichi’s predecessor had negotiated a 15 percent rate for most Japanese exports to the US but the deal is yet to be signed.

“Within six months of date of framework, Japan and the US intend to take measures to support projects to generate end-product for delivery to buyers in US, Japan and like-minded nations,” the White House said.

According to BBC, Trump wants more US access to Japan’s markets – especially in cars, agriculture, and technology. He’s pressing Japan to buy more American rice and soybeans, and to open its market to US vehicles.

Here’s all about Trump-Takaichi meeting in 5 points:

1. In her first face-to-face meeting with President Trump, Takaichi described him as a partner in a new golden age and praised his role in Middle East peace.

She pledged Tuesday to build a “new golden era” of the Japan-US alliance together with President Donald Trump.

2. Meanwhile, President Trump praised Japan as “a great ally” and said he’ll be there to help Japan whenever needed. But he’s also pushing hard on trade and security.

“I want to just let you know – any time you have any question, any doubt, anything you want, any favors you need, anything I can do to help Japan, we will be there,” Trump was quoted by BBC as saying.

3. A Japanese government source reportedly said Takaichi intends to tell Trump of her plan to recommend him for the Nobel Peace Prize. Pakistan and Cambodia have already nominated Trump for the prize.

4. For Prime Minister Sanae Takaichi — Japan’s first female leader — it was an early test of both her diplomacy and her leadership. She’s hosting Trump just days after taking office, at a moment when Japan faces a more uncertain regional landscape.

5. Donald Trump told Japan’s new leader Sanae Takaichi on Tuesday that Washington is an ally of the strongest level. “We are an ally at the strongest level, and it’s a great honour to be with you, especially so early in what will be, I think, one of the greatest prime ministers,” he told Takaichi at their meeting.

Trump tariff on Japan

Automakers – Japan’s largest exporters to the US – faced 24 percent tariffs and tens of billions of dollars in losses.

Tariffs have now been lowered to 15 percent. Trump imposed tariffs of 15 percent on imports from Japan and forced its ally to commit to investing $550 billion to “advance economic and security interests in the US”.