Japan Considers Boosting Soybean and Rice Imports Amid Trade Talks with U.S.

Tokyo is mulling over the possibility of increasing its imports of soybeans and rice as a concession during trade negotiations with the United States, according to a report by Japan’s Yomiuri daily on Saturday. This comes as Japan seeks to mitigate the impact of tariffs imposed by President Donald Trump, which have stirred market volatility and raised concerns about a potential economic downturn.

During the initial round of bilateral discussions held on Wednesday, U.S. negotiators identified automobiles and rice as sectors where they believe Japan maintains trade barriers. They further requested that Japan increase its imports of meat, fish products, and potatoes, according to the newspaper.

Official comments from Japan’s Cabinet Office were not immediately available. The Office of the U.S. Trade Representative’s annual report highlights these trade obstacles. Japanese media outlets drew attention to a White House photograph featuring the 400-page report during the talks in Washington.

Following the discussions, Trump unexpectedly invited Ryosei Akazawa, Japan’s lead negotiator and Minister for Economic Revitalization, to the Oval Office, where he noted “significant progress.” Specific details, however, have remained limited. Finance Minister Katsunobu Kato is slated to continue the bilateral discussions with Treasury Secretary Scott Bessent during global meetings scheduled for the following week in Washington.

Soybeans impacted by tariff concerns and South American supply

Japan’s exports to the U.S. have faced levies of 24%, but these rates, along with most of Trump’s tariffs, have been temporarily suspended for 90 days. A 10% general rate is still in effect, along with a 25% duty on automobiles, which are crucial to Japan’s export-driven economy.

According to the Yomiuri report, Akazawa requested that the U.S. delegation prioritize their demands by order of importance.

Trump has previously criticized Japan for what he described as a 700% tariff on rice, a figure that Japan argues is based on outdated international rice prices.

It remains uncertain whether the Trump administration will specifically target rice, given that exports to Japan originate from California, a state that typically leans Democratic.

Even before Trump’s tariffs were implemented, Japan had already been increasing its imports of staple rice over the past year due to soaring domestic prices caused by a supply shortage.