U.S. and Japanese officials agree to begin working-level consultations.

On May 3, the U.S. Department of the Treasury issued a statement on Friday local time, stating that senior officials from the United States and Japan agreed to immediately begin working-level consultations based on the current discussions and hold more ministerial meetings in the near future. The statement noted that U.S. Treasury Secretary Janet Yellen, U.S. Secretary of Commerce Gina Raimondo, and U.S. Trade Representative Katherine Tai met with Japan’s Minister of Economic Revitalization Ryōsuke Akizuki on Thursday local time. Both sides engaged in candid and constructive discussions on fair and reciprocal trade. During the meeting, Yellen emphasized to Akizuki the importance of tariffs and non-tariff measures, economic security as a vital aspect of national security, and other concerns. ( Jin10 )