https://v.redd.it/84hevtang4we1
There is no news/public demands from white house. Everything appears to just setup Trump to declare victory no matter what is achieved. Similar to 10 contradicting objectives of tariffs themselves.
Because no one in that administration is remotely qualified for their position and does not know what they’re doing.
More likely, Bessent who probably inherently disagrees with tariffs, simply has to give an offer that will caress Trump’s ego, and Trump has no idea what to ask for, other than complain about complete BS.
Trump/Navarro have complained endlessly on auto trade balances with EU and Japan. Never have US auto companies asked the government for “freedom to invest in export into those continents” because it is a big investment (dealers/repair), and US is just not competitive in cars suitable for those markets. Oil companies never shy away from demanding government increase LNG/oil export/drilling permits. Car companies never complaining about lack of foreign market access is simply a reflection of not being all that competitive just in domestic US market.
Japan also drives on opposite side of the road compared to the US. Standard US models would have to be reworked
The world is figuring out … if you’re doing business with an idiot who is trying to push you around and obviously doesn’t know what they’re doing and is just costing you money in a vain attempt to try to screw you … why the hell would you even bother doing business with a moron.
I will just leave this here.
I picked the FT link for the headline, for being comprehensive, and not mentioning any demands. Your Japanese official is dead right in his main point, that negotiating with an extortionist is a bad idea, but almost as big of an obstacle is an extortionist with no clue other than “get something that sounds like a win for me”.
So far, the Japanese offers are pretty muted, and can be temporary. Currency appreciation is a path for more competitive FDI in US, and inflation in US that can make its debt less unsustainable. The problem for Japan is that its debt to GDP is even higher than the US, and it can’t afford higher interest rates. Japan is the most fragile economy on the planet, and concessions other than a few soybeans and FFs, can easily collapse the country.
