Trump Hopeful on Trade Deal with Japan After July

On the sidelines of the trade war with China, Trump remains hopeful that he can get Japan to reduce its trade surplus with the US. On his visit to Japan for a four-day summit, Trump stated, “Trade-wise, I think we’ll be announcing some things, probably in August that will be very good for both countries.”

The summit could defuse some tensions building up between the friendly nations on issues related to trade and North Korea. Trump also maintained that he expected North Korea to denuclearize, but was unsure if it could be achieved.

The two-way trade deal between US and Japan is being worked out, but it will most likely materialize only after Japan’s Upper House elections in July. Trump has threatened tariff hikes on Japanese cars in a bid to cut trade surplus with the country.

USD/JPY is trading somewhat steady at the start of the week at around 109.45 at the time of writing.

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Arslan Butt
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Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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