Japan and the UK are set to initiate an economic version of the “two plus two” dialogue—a regular meeting between foreign and trade ministers—due to rising concerns about possible tariffs from U.S. President-elect Donald Trump.
Japanese Prime Minister Shigeru Ishiba and his British counterpart, Keir Starmer, are scheduled to meet in Rio de Janeiro during the upcoming G20 Summit on Monday, November 18. According to officials from both governments, the goal is to establish a bilateral economic dialogue.
This development follows Trump’s recent election victory and his anticipated return to the White House in January. During his campaign, Trump pledged to impose tariffs of 60% on imports from China and 10-20% on imports from other nations, including Japan and the UK.
The Japan-UK economic dialogue aims to strengthen cooperation in upholding the international economic order, including principles of free trade.
Topics at the meeting will cover a wide range of strategic and geopolitical issues. Both partners are expected to explore ways to initiate a trade dialogue with the U.S. to prevent a potential tariff hike. Sources indicate that countermeasures may also be on the table if U.S. import tariffs do increase.
In 2023, 20% of Japan’s exports and 15% of the UK’s exports were destined for the U.S., underscoring the potential economic impact of increased tariffs.
Additionally, the UK hopes that a strengthened partnership with Japan can help offset its reduced influence since leaving the European Union (EU) in 2020.
During the previous Trump administration, the EU (of which the UK was then a member) imposed retaliatory tariffs on U.S. steel and motorcycles in response to Washington’s high import duties.
