Keidanren welcomes the agreement reached with the United States to reduce the reciprocal tariff rate on Japan from 25% to 15%, and to lower the additional 25% tariff on automobiles and auto parts to a total of 15%, inclusive of the existing MFN rate. This outcome reflects the results of vigorous and constructive negotiation rounds.

Keidanren has consistently emphasized that a "prompt but measured" approach should be adopted in the negotiations. While aiming for an agreement as soon as possible, it has been equally important to ensure Japan's national interests are not compromised. We believe this agreement aligns with our position and represents a balanced outcome. We also view the agreement as a recognition of the contributions Japanese companies have been making to the U.S. economy and society through direct investment, and we remain committed to furthering these efforts.

Looking ahead, Japan should focus on expanding and deepening its Economic Partnership Agreement (EPA)/Free Trade Agreement (FTA) networks, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), as well as on reforming and repositioning the multilateral free trade system under the World Trade Organization (WTO).

Today, Keidanren had the opportunity to discuss these issues with European Commission President Ursla von der Leyen. We reaffirm our commitment to proactive private-sector diplomacy to help maintain and strengthen the rules-based, free and open international economic order.