Watch Live: Trump holds press conference with Japanese prime minister at White House

Washington — President Trump is holding a press conference with Japanese Prime Minister Shigeru Ishiba, following a meeting with him at the White House Friday. While he praised Ishiba and had warm words for the prime minister, Trump indicated that he had not ruled out tariffs on Japan.

“I made clear that the United States will be conducting trade with all countries based on the principle of fairness and reciprocity,” the president said. “Chronic trade deficits not only undermine our economy — they really do — …we have a trade deficit with Japan of over $100 billion, but we’re going to work that out, and I think very quickly, frankly. We can do that just on oil and gas, we can work it out.” 

The president also announced Japan would be taking in new shipments of American liquified natural gas or LNG “in record numbers.” 

On another topic, asked by a reporter why DOGE needed access to Americans’ personal information, like bank accounts and Social Security numbers, the president appeared to support DOGE’s efforts while indicating that it did not need the data.

“Well, it doesn’t, but they get it very easily, I mean we don’t have very good security in our country,” Mr. Trump said. 

“After our meeting today, I’m confident that the cherished alliances between our two countries and others also will continue to flourish long and into the future,” Mr. Trump said in his opening remarks. “The military cooperation between the United States and Japan is one of our closest security partnerships, and it’s one of the closest we have anywhere in the world.” 

Mr. Trump said the two leaders spoke “long and hard” about their economic and trade relationship and noted Japan’s outsized investments in the U.S. Mr. Trump said Japan will have some “competition,” because other countries are also eager to invest in the U.S.

Ishiba, through a translator, said their discussion was “frank” and “productive.” The two leaders said they would issue a joint Japan-U.S. statement, which would serve as a compass. “I look forward to working with President Trump, whom I respect immensely, to usher in a new golden age of Japan-U.S. relations,” the Japanese leader said. 

Trump and Japanese prime minister discuss U.S. Steel, tariffs, automotive issues, national security

Before the news conference, among the top issues to come up during Mr. Trump’s meeting with the Japanese prime minister was Nippon Steel’s deal to acquire U.S. Steel, despite former President Joe Biden’s rejection of the merger and Mr. Trump’s previous pledge to block the deal. 

Mr. Trump told reporters Friday he hasn’t changed his mind on U.S. Steel, but multiple sources said he is considering allowing Japan’s Nippon Steel to complete its $14.1 billion acquisition of U.S. Steel. Approval of the transaction isn’t definite, and Mr. Trump has not made a final decision, sources say. Mr. Trump told reporters Friday that he and the Japanese prime minister would be discussing the U.S. steel deal.

Mr. Trump met with the CEO of U.S. Steel, David Burritt, at the White House on Thursday. The Biden administration blocked the sale of U.S. Steel to Nippon Steel last month. U.S. Steel and Nippon Steel have filed lawsuits over the Biden administration’s decision to stop Nippon Steel from taking over its Pittsburgh-based rival company. 

“The United States is proud of our long and close alliance with Japan, and it’s time for a new age of U.S. Japan relations to bring peace and prosperity to the Indo-Pacific,” a senior administration official told reporters on a phone call. “Our two nations will continue to work together to ensure we deter threats in the region through our full range of military capabilities.”

Friday is Mr. Trump’s first in-person meeting with Ishiba. 

Mr. Trump’s appearance with the Japanese prime minister is his second meeting and joint press conference with a foreign leader this week. On Tuesday, Mr. Trump hosted Israeli Prime Minister Benjamin Netanyahu, and said the U.S. wants to take control of and “own” the Gaza Strip. 

Ishiba will likely look to persuade Mr. Trump from placing any tariffs on Japanese goods, as Mr. Trump exercises his authority to slap tariffs on nations that he believes aren’t treating the U.S. fairly.

The U.S. and Japan have close financial ties, and Japan is the largest source of direct foreign investment into the U.S. 

A senior administration official said topics of their discussion will include training exercises and increasing cooperation on defense equipment and technology, foreign investment in the U.S., energy exports, and ways to increase cooperation in space ventures, among other things. 

Mr. Trump grew close to Japan’s former prime minister, Shinzo Abe, who was assassinated in 2022. Mr. Trump hosted Abe’s widow at his Mar-a-Lago estate in December. 

contributed to this report.