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Japan Faces Trade Crisis Ahead of Key U.S. Meeting

7/17/2025

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Summary

Story summary

Japan's Prime Minister Shigeru Ishiba is set to meet U.S. Treasury Secretary Scott Bessent this Friday, just weeks before a looming 25% tariff takes effect on August 1. Tensions rise as Japan protests South Korea's military exercises near contested islets, while the nation grapples with a staggering 30.8% drop in trade surplus for June, driven by dwindling exports to the U.S.

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Story summary

Japan's Prime Minister Shigeru Ishiba is set to meet U.S. Treasury Secretary Scott Bessent this Friday, just weeks before a looming 25% tariff takes effect on August 1. Tensions rise as Japan protests South Korea's military exercises near contested islets, while the nation grapples with a staggering 30.8% drop in trade surplus for June, driven by dwindling exports to the U.S.