Japan's Prime Minister is looking to reach a trade agreement with the US president on the sidelines of next month's G7 summit in Canada. Tokyo also hopes for another round of tariff talks later this week.
Ishiba Shigeru met with Economic Revitalization Minister Akasaba Ryosei on Sunday. He's the chief negotiator in the talks. Akazawa just returned to Japan after meeting US Trade Representative Jamison Greer and other senior officials in Washington. The Prime Minister was briefed on what was discussed in the latest round of the bilateral negotiations. Japan is proposing a plan that aims to promote Japan-US cooperation in the shipbuilding sector.
Ishiba says that Tokyo is considering repairing US military vessels in Japan and promoting cooperation regarding ice-breaking ships that travel in the Arctic Circle. US Treasury Secretary Scott Bessent was absent from the third round of negotiations. Akazawa says he wants to hold talks with him when he is available. Well, many are closely watching another major deal in the works, and President Donald Trump has offered an update. He says that Nippon Steel can have partial ownership of US Steel, but he also vowed that the firm would remain under American control.
Trump made the comments to reporters in New Jersey on Sunday.
It'll be controlled by the United States. Otherwise, I wouldn't make the deal.
We'll see. But it would be it's an investment and it's a partial ownership, but it'll be controlled by the USA.
Trump didn't give details, including how big Nippon Steel's stake would be.
Trump's remarks indicate that he's still weighing the deal. He's to make a final decision on the case by June 5. US media say his comments are leaving many questions unanswered, business news outlet Bloomberg says. Quote, Investors, executives, and diplomats are still unsure of what exactly the US president endorsed. Nippon Steel's plan to take over US Steel was announced in December 2023. It soon became a major political issue.
Donald Trump called the deal a horrible thing when he was a contender for president in January 2024. He promised to block it immediately if he won office.
Trump was sworn in as president on January 20. He held summit talks with Japan's Prime Minister Ishiba Shigeru in early February.
US Steel is a very important company to us. We didn't want to see that leave, and it wouldn't actually leave, but the concept psychologically not good.
Trump said Nippon Steel agreed to invest heavily in US Steel as opposed to owning it. Trump reaffirmed his hard line just days later, saying nobody can have a majority stake in US Steel. On April 7, the President instructed the Committee on Foreign Investment to conduct a fresh review of the proposed deal to identify any national security risks. Ordering another review is unusual. Some saw it as a sign the acquisition might be approved.
But once again, Trump poured cold water on the idea of turning US Steel into a wholly owned subsidiary of the Japanese company.
And we love Japan, but for a foreign country to buy that cherished US Steel brand, that's hard for me to do.
Earlier, I spoke with our senior economic commentator, Sakurai Reiko, to explore the deal's prospects as well as the tariff negotiations.
First of all, let's start with US Nippon Steel, US Steel and of course Trump. Now it looks like will he or won't he part of the story is already over. So what's motivating him now to say that the partnership will move forward?
Well, I think what may be on his mind is that time is running out for all the key players involved. This has been ongoing for 14 months. US Steel desperately needs fresh money and cutting-edge tech from Nippon Steel to compete globally. I remember it was US Steel that wanted the deal, and it needs to make new investments now. We've seen many other steel mills closing in the past several months due to tougher competition. Trump faces a delicate balance. He's looking to keep his election campaign promise and still save the US firm. But if his tariff stocks are any indication, this might be hard to pull off. Experts say that the US had to make huge compromises to strike deals with the UK and China.
Trump wants some kind of good news that can appeal to workers in the manufacturing sector.
So what's in it for Nippon's deal?
Well, that's a big question. It's still unclear how much ownership Trump will allow the Japanese firm to gain. But the original idea of making the US firm its wholly owned subsidiary may not happen. Now, there are some key things Nippon Steel hopes to gain. It can work with US Steel in the field of decarbonization using technologies called electric arc furnaces. The American firm has a tech that uses steel scrap electricity to produce steel and cut back on carbon emissions. The Japanese company can also avoid a massive penalty. If the steel completely breaks, you will have to pay about 565 million dollars.
Yeah, that's a big chunk of change. So now you mentioned tax. What's Nippon Steel's contribution in this field?
Well, it has a lot to offer too, and that carries a different set of challenges. In order to provide its cutting-edge technology, the firm needs to be assured that its contribution will be safely secured and protected from leaks.
That's actually one reason why the company wanted a fully owned subsidiary.
Trump is expected to visit the US steel plant in Pittsburgh on Friday. We'll see if more details are hammered out as we near the date.
And Reiko, switching to the other big deal we've been following, the Japanese government is trying to make progress with the trade deal with the US. How do you think this will play out?
Well, I expect the White House will gradually take more of a realistic approach. Treasury Secretary Scott Bessent seems to be gaining more power and winning more of Trump's confidence in recent days. He appears to be less of a hardliner compared to others in the administration. Tokyo has been coming back with proposals such as cooperation in the shipbuilding sector, where Washington wants Japan's help the most. We have yet to see if Trump's team is shifting to a softer stance to avoid further economic repercussions. But I think what Japan is trying to emphasize to the US is true, that investments actually work much better than tariffs. It's up to the White House whether it follows the suggestion for one of its important allies.
It was President Trump says he has extended the deadline for imposing a 50% tariff on the European Union. He says the day will be moved back by more than a month to give more time to negotiators to work out a deal. Trump told reporters he spoke on the phone with European Commission President Ursula von der Leyen.
We had a very nice call and I agreed to move it. I believe June 9th would be July 9th would be the day. That was the date she requested. Could we move it from June 1st to July 9th?And I agreed to do that, and that she said we will rapidly get together and see if we can work something out.
Trump on Friday made the threat to impose a 50 percent tariff on goods from the EU. He complained on social media that negotiations with the bloc had gone nowhere. The US president claimed the annual US trade deficit with the EU is massive and totally unacceptable.
Trump has criticized Russian President Vladimir Putin after Moscow launched massive attacks across Ukraine over the weekend.
I'm not happy with what Putin's doing. He's killing a lot of people, and I don't know what the hell happened to Putin. I've known him a long time, always gotten along with him, but he's sending rockets into cities and killing people, and I don't like it at all.
Meanwhile, Trump says he's expecting good news from talks with Iran over its nuclear development. He made the remark after officials from the two countries held a new round of high-level discussions in Rome on Friday.
The delegations are led by US special envoy to the Middle East, Steve Witkoff and Iranian Foreign Minister Abbas Arachi.
Very importantly, we had some very good talks with Iran yesterday and today, and let's see what happens. But. I think we could have some good news on the Iran front.
Trump went on to say the talks have made serious progress. The US president is apparently looking for a quick diplomatic win on Iran as ceasefire talks have stalled for both the Gaza Strip and Ukraine conflicts. But it remains unclear to what extent the US and Iran have narrowed their differences over Iran's uranium enrichment, one of the main sticking points between the two.
North Korean media say the country's law enforcement authorities have detained another official in connection with last week's failed warship launch. The ruling Workers' Party newspaper Rodong Shinbun reported on Monday that the deputy head of the munitions and industry department of the party's central committee was detained. The paper says the action was taken based on data from an investigation team and that the official bears great responsibility for the accident. On Wednesday, a new destroyer was damaged during its launch ceremony at a shipyard in the country's northeast. Three officials have already been detained over the incident. Satellite imagery taken on Saturday shows the destroyer lying on its side and partially submerged, as well as many other vessels around it. North Korean media said work is underway to right the warship.
The country's leader, Kim Jong-un, blasted the incident as a criminal act.
He said what he calls the irresponsible errors of senior officials will be raised at the Central Committee's plenary session scheduled for late June.
Japan's defense ministry reports a Chinese navy aircraft carrier was observed sailing in the East China Sea off the Senkaku Islands on Sunday. It also notes fighter jets were spotted conducting takeoffs and landings. The ministry says it confirmed the Liaoning and four other vessels were traveling around 200 kilometers north of Kubashima Island at about 7 a.m.
It adds it verified fighter jets and helicopters lifted off from the Liaoning and landed. The Japan Air Self-Defense Force responded by scrambling its own fighter jets. The ministry notes there was no violation of Japan's airspace.
A Chinese Coast Guard helicopter violated Japan's territorial airspace around the Senkok Islands earlier this month. The Defense Ministry has continued to conduct surveillance in the area. Japan controls the Senkok Islands. The Japanese government maintains they are an inherent part of Japan's territory. China and Taiwan claim them. This is the first time the ministry has reported seeing jets taking off and landing on a Chinese carrier in the East China Sea.
Garcia Martinez allegedly abandoned the car and fled the scene. Police found and arrested him about one hour later. The suspect told investigators that he caused the crash, but he denied an allegation that he failed to provide first aid. The police say Garcia Martinez's alcohol level was about double the legal limit.
Meanwhile, another Marine was arrested on Monday in Okinawa City on suspicion of drunk driving. The 23-year-old reportedly told officers he thought the effects of alcohol had worn off.
Japan's main gateway to overseas visitors, Narita Airport, has begun full-scale work and an expansion project. A third runway will be built to meet the increasing demand.
Transport ministry officials and the governor of Chiba Prefecture attended a ceremony on Sunday to mark the start of the construction. The number of international travelers using the airport exceeded 20 million for the first time in 2024. The operator plans to extend the 2,500-meter-long B runway to 3,500 meters and to build a new 3,500-meter C runway. It aims to raise the number of takeoffs and landings to 500,000 per year, nearly double the current level. It plans to complete the project by the end of March 2029.
I'm confident the expansion will create a new future for the area and the airports.
The company says it has so far secured over 80% of the land needed for the project.
Now let's get to the latest in business. Ramin Malengard has the details. Ramin.
Thank you very much indeed.
Now, Japan's agriculture ministry says it will start selling government stockpiles of rice directly to retailers so the grain can reach consumers at lower prices. Now, the plan follows a series of competitive auctions that fail to bring down the soaring prices of the staple crop.
Ministry officials say the stockpiles will now be released through no bid contracts with major retailers, including e-commerce platforms that can handle rice in bulk. A total of 300,000 tons from 2021 and 2022 will be up for sale. Prices will be set at roughly half the level of the average winning bids from the recent auctions. That means the retailers will pay 963 yen or about $6.7 for a 5 kilogram bag. With distribution costs included, the retail price before tax is likely to be around 2,000 yen or about $14.
Earlier this month, supermarkets across Japan had been selling the same volume of rice at an average price of over 4,000 yen. Now the ministry is accepting applications from retailers for Monday. Officials say the rice could hit store shelves in early June at the earliest. Agriculture Minister Koizumi Shinjiro spoke at the inaugural meeting of a task force implementing the plan.
Without doubt, the top priority for the agriculture ministry is to stabilize rice prices. We face the urgent challenge of delivering low-priced, tasty rice to consumers as quickly as possible to prevent consumers from shying away from the staple food. This is our responsibility.
The task force will eventually have about 500 members in total, including personnel from regional bureaus.
And Japan's Honda Motor says it plans to build more hybrid vehicles in the United States. The decision is in response to the Trump tariffs and a slowdown in sales of electric vehicles.
Honda produces about 1/4 of a million units a year at its factory in the US Midwestern state of Indiana. Hybrids account for around 60% of total output. The automaker plans to increase the facility's hybrid production and expand the lineup. It predicts that the vehicles will become more popular with American consumers.
Honda is focusing on maximizing production of hybrid cars, for which demand is expected to increase in North America. We're building an optimal production system while monitoring US tariff policies.
The automaker also plans to procure more US made vehicle parts to comply with the Trump administration's additional tariffs. The tariffs and the EV sales slowdown are prompting other automakers to review their production systems and sales strategies.
Now businesses in Japan are expanding their use of generative artificial intelligence to human resources management, including staff training and evaluation.
A subsidiary of precision-machinery maker Ricoh started using generative A I this year to train new recruits in sales work. Staff wear goggles as they pitch the company's products to AI-generated clients, and AI also evaluates their performance.
This will allow for a significant increase in role-playing, and as a result, our staff will be able to communicate better with customers and listen to their problems as much as possible.
Meanwhile, cable TV operator JCOM plans to introduce generative AI to evaluate call center staff by next March. AI will analyze interactions between employees and customers for criteria such as clarity of staff explanations and estimate how the customers are feeling. A call center manager said past evaluations were based on assessment of only about 2% of conversations, but AI can analyze all staff client interactions.
She says the technology will help the company grow.
OK, let's get a check on the markets.
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And that is it for business news. Going to hand it back to you.
Thanks, Ramin.
Now, seahorses like this couple forming a heart shape are drawing many people to the city of Minamata. To see their manic image with their own eyes, visitors can dive into the local waters once polluted by an industrial disaster. NHK World's Morishita Erika went to see Minamata's efforts to promote its thriving marine life.
The waters of Minamata, Kumamoto Prefecture, are a treasure trove of fish.
These divers drove six hours from Hiroshima to get a look at the local sea life.
The city has made the seahorses a kind of mascot. They can be found in this rose garden and at this inn. They are making quite a presence around town.
Spring has returned and so too has this clean and rich environment here in Minamata city. But despite this beauty, some people feel there can still be prejudice at times.
Minamata disease was officially recognized in 1956.
It's a chronic neurological disorder caused by eating fish contaminated by methylmercury The highly toxic chemical was drained into Minamata Bay by a nearby factory.
Morishita Makoto leads diving tours in Minamata. He thinks that Himetatsu can serve as a symbol of the city's restored marine environment. As a child, he witnessed the city's efforts to revitalize the area. But he's heard some people say they have a negative impression of the water.
I was frustrated that not many people knew the sea here was safe again. I knew I had to dive in, see it with my own eyes, and let people know what's down there.
The only time it's possible to enter at this point is at high tide. Divers can enter directly from the coast and get a great view in the clear water.
It was beautiful. We saw sea slugs.
I can see. They were himetatsu.
During breeding season, fish need a lot of food. The fact that there's so much marine life here means the environment is gradually being restored.
Morishita is working hard to spread awareness of Minamata's recovery to the next generation.
I hope young people will have a better image of Minamata when they see it as a wonderful seaweed forest and lots of delicious-looking fish.
He hopes children here will be proud of the city and its sea, where they can swim with the Himetatsu. Morishita Erika, NHK World.
It's time for a check on the weather with our meteorologist Jonathan Oh. Jonathan, it looks like clouds are going to be part of our weather story this week in Tokyo. So will we also remain closer to what's normal for this time of year temperature wise?
We have the stationary front, which is part of the rainy season band, though even though most of Japan not quite into the rainy season yet. We had this influence of the front going back and forth and as it does so we had the clouds in place and we also saw that cool air coming in from the north as well. So that combination giving us a cooler type of weather pattern and cloudier as we'll have a cloud deck that's going to be lingering along the Pacific side at least a place like Tokyo and Osaka as we go into the day on Tuesday. High of 20 in Tokyo, 22 in Osaka up toward the north. It's warmer and place like Sapporo and in Niigata compared to Tokyo with partly cloudy skies, the cloud cover kind of keeping things on the cooler side for Tokyo as you go through the day on Tuesday.
Meanwhile across North America down toward the South, the southern plains, we have a stationary front there. Warm air coming from the South, quarter from the north, that collision, that instability bringing the possibility of strong to even severe thunderstorms stretching across the southern plains and into portraits of the southeastern United States. I mean, this pattern has been in place off and on over the past few weeks.
So I mean, they can use a break, but it's not going to be the case as we go through Monday. And it's Memorial Day in the United States and some folks are going to spend time outdoors. But for areas down to the South, probably not the best idea.
Thunderstorms to Oklahoma City down toward Houston, into Atlanta as well.
Separate system up toward the Pacific Northwest showing some showers as you go throughout the day on Monday.
Quick note on Europe, couple of cold fronts from the central into the eastern portions of Europe. That's going to bring some wet weather as you go throughout the day on Monday. Hope you have a good day wherever you are.
♫～
That's it for this hour on NHK Newsline. I'm Yuko Fukushima. Thanks for joining us.
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