Japan is reportedly considering increasing imports of American soybeans and rice as a bargaining chip in trade negotiations.

According to media reports, in the trade negotiations with U.S. President Trump, Japan is considering increasing imports of soybeans and rice as a concession. Earlier this month, Trump announced so-called reciprocal tariffs on over 180 countries. As an important ally of the United States, Japan was not spared and faced a 24% tariff. Due to the reciprocal tariffs sparking a new round of trade wars and causing volatility in Wall Street markets, Trump announced last week a 90-day suspension of reciprocal tariffs for most countries, but maintained a 10% baseline tariff. The U.S. and Japan held the first round of bilateral negotiations this week. It is reported that U.S. negotiators have identified cars and rice as areas where Japan sets market barriers, and have requested Japan to increase imports of American meat, seafood, and potatoes. Japan's Chief Negotiator and Minister of Economic Revitalization, Ryo Akazawa, requested that the U.S. delegation communicate their priorities in order of importance. Trump personally participated in this round of trade negotiations and claimed "significant progress," but did not disclose specific results. Japan's Finance Minister Taro Aso will attend the World Bank and International Monetary Fund annual meeting in Washington next week. It is expected that he will continue bilateral negotiations with U.S. Treasury Secretary Mnuchin. Despite Trump postponing reciprocal tariffs, Japanese exports to the U.S. still face a 10% unified tariff and a 25% tariff on automobiles, which are a crucial industry for Japan as an export-oriented economy. Trump has criticized Japan for imposing tariffs as high as 700% on rice, but this claim has been refuted by Japan, citing outdated international rice price data. However, given that rice is a major export from the Democratic Party stronghold of California, it is unclear whether the Republican government under Trump's leadership will continue to pressure the rice issue. It is worth noting that prior to Trump's imposition of tariffs, Japan had already started increasing rice imports due to domestic supply shortages and soaring prices over the past year.