‘We Love Japan,’ Says Trump as He Welcomes Ishiba amid Simmering Trade Tensions

 President Donald Trump greets Japanese Prime Minister Shigeru Ishiba in the Oval Office of the White House, Friday, Feb. 7, 2025, in Washington. (AP)
President Donald Trump greets Japanese Prime Minister Shigeru Ishiba in the Oval Office of the White House, Friday, Feb. 7, 2025, in Washington. (AP)
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‘We Love Japan,’ Says Trump as He Welcomes Ishiba amid Simmering Trade Tensions

 President Donald Trump greets Japanese Prime Minister Shigeru Ishiba in the Oval Office of the White House, Friday, Feb. 7, 2025, in Washington. (AP)
President Donald Trump greets Japanese Prime Minister Shigeru Ishiba in the Oval Office of the White House, Friday, Feb. 7, 2025, in Washington. (AP)

US President Donald Trump welcomed Japanese Prime Minister Shigeru Ishiba at the White House on Friday as two allies wary of China's rise work to boost business and security ties while an escalating trade war threatens to rupture the global economy.

"We love Japan!" Trump said as he greeted Ishiba and the two shook hands.

Trump, whose first three weeks in office have shredded norms and shaken foreign capitals from Ottawa to Bogota, has taken a more conventional approach to Washington's longstanding Asia-Pacific allies, including Japan, South Korea, Australia and the Philippines.

But those friendships may be tested as Trump's early fight with China over synthetic opioids and warnings of tariffs against other countries - Japan included - threaten to disrupt commercial relations in Asia and beyond.

A senior Trump administration official told reporters the leaders would discuss military training exercises, increased cooperation on defense equipment and technology, foreign investment and energy.

They will also discuss cybersecurity, space and joint business opportunities in the artificial intelligence and semiconductor sectors, the official said.

"The United States is proud of our long and close alliance with Japan," the official said. "Our two nations will continue to work together to ensure we deter threats in the region through our full range of military capabilities," the official said.

Asked about the US trade deficit with Japan and the threat of tariffs, a second senior Trump administration official said: "We all know that President Trump pays a lot of attention to deficits as an indication of the economic fairness and strength of the relationship so I'm sure discussions will happen about that."

Trump told Republican lawmakers he plans to announce more reciprocal tariffs on foreign imports as early as Friday, two sources familiar with the plans told Reuters.

Trump put a 10% tariff on all imports from China in what he called an "opening salvo" in a clash between the world's two largest economies, sending consumers and businesses scrambling to adjust.

Japan is especially trade-dependent: it is a major exporter and counts on imports for much of its food and natural resources, and many of its firms are deeply invested in and reliant on China.

Tokyo shares the hawkish outlook towards China of Trump's national security team over Beijing's global ambitions and extensive territorial claims in Asia, including the vital chip-producing island of Taiwan.

At the same time, Japanese officials are wary of possible efforts by Beijing to court the US president with promises of cooperation on key global issues, including trade. Trump spoke to Chinese President Xi Jinping days before taking office and has said he will discuss tariffs with him soon.

Japanese officials speaking privately say they are comfortable in dealing with Trump's China hawks, including Secretary of State Marco Rubio and national security Michael Waltz, but less so with those in the administration with strong business ties with Beijing, such as billionaire Elon Musk, who has developed a significant Washington power base.

Trump and Ishiba are due to hold a joint press conference on Friday afternoon.

BRACING FOR TRUMP DEMANDS

For Tokyo, the early White House visit is a promising signal from the new Trump administration.

"There's two foreign heads of state that have been received in the Oval Office," said Rahm Emanuel, Biden's ambassador to Tokyo. "That's Bibi Netanyahu of Israel, and Japan. So that's a good thing, and that's a good sign."

Trump was close with the late Japanese Prime Minister Shinzo Abe but has no relationship with Ishiba, who took office in October. That is something Japanese officials want to change, and they plan to invite Trump to visit Japan.

Japan is girding for Trump to demand concessions to reduce the $56 billion bilateral trade surplus and stave off the threat of tariffs.

Tokyo has been preparing some concessions, officials told Reuters, including considering to buy more LNG from the United States and offering support for a $44 billion gas pipeline in Alaska. SoftBank CEO Masayoshi Son has also promised to invest hundreds of billions in artificial intelligence in the US.

"The Japanese are definitely thinking of ways to both reduce the deficit and create jobs in the United States in industrial sectors that are of particular interest to Donald Trump," said Kenneth Weinstein, head of Japan program at Washington's conservative Hudson Institute think tank.

There are tensions beyond trade, including the attempted takeover of US Steel by Japan's Nippon Steel. Former President Joe Biden blocked this but delayed enforcement pending legal action; Trump has also vowed to block the deal.

However, there are also solid signs of stability and the two leaders are expected to agree language on security issues, including China and Taiwan, according to another official familiar with the discussions.

Discussions are also expected on North Korea, and the Trump official noted that the administration was committed to the complete denuclearization of North Korea, while the President had voiced his openness to engaging with North Korea. Trump did this in his first term, although little came of the effort.



EU Reportedly Set to Freeze US Trade Deal Approval Over Trump Tariff Risk

FILE PHOTO: Containers are loaded on freight trains at the railroad shunting yard in Maschen near Hamburg, Germany November 14, 2019. REUTERS/Fabian Bimmer/File Photo
FILE PHOTO: Containers are loaded on freight trains at the railroad shunting yard in Maschen near Hamburg, Germany November 14, 2019. REUTERS/Fabian Bimmer/File Photo
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EU Reportedly Set to Freeze US Trade Deal Approval Over Trump Tariff Risk

FILE PHOTO: Containers are loaded on freight trains at the railroad shunting yard in Maschen near Hamburg, Germany November 14, 2019. REUTERS/Fabian Bimmer/File Photo
FILE PHOTO: Containers are loaded on freight trains at the railroad shunting yard in Maschen near Hamburg, Germany November 14, 2019. REUTERS/Fabian Bimmer/File Photo

The European Union is poised to freeze the ratification process of its trade deal ‌with the ‌US and is ‌seeking ⁠more details from ⁠President Donald Trump’s administration on its new tariff program, Bloomberg News reported on Monday.

Zeljana ⁠Zovko, the lead ‌trade ‌negotiator in the ‌European People’s Party group ‌on the US deal, told Bloomberg in an interview that the ‌EU has "no other option" but to ⁠delay ⁠the approval process to seek to clarity on the situation.

The center-right EPP group is the largest political bloc in the European parliament.

Trump said Saturday that he wants a global tariff of 15%, up from the 10% he announced a day earlier.

American and EU officials sealed a trade deal last year that imposes a 15% import tax on 70% of European goods exported to the United States. The European Commission handles trade for the 27 EU member countries.

The value of EU-US trade in goods and services amounted to 1.7 trillion euros ($2 trillion) in 2024, or an average of 4.6 billion euros a day, according to EU statistics agency Eurostat.


Mexico Eyes Trade Expansion, Targets Saudi Market with Premium Rice Exports

Rice products at a commercial market in Saudi Arabia (SPA)
Rice products at a commercial market in Saudi Arabia (SPA)
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Mexico Eyes Trade Expansion, Targets Saudi Market with Premium Rice Exports

Rice products at a commercial market in Saudi Arabia (SPA)
Rice products at a commercial market in Saudi Arabia (SPA)

Mexico is preparing to expand its trade ties with Saudi Arabia by exporting high-quality rice to the Kingdom, sources told Asharq Al-Awsat.

They said Mexico has an export offer for three premium rice varieties that meet the highest international standards.

Saudi Arabia imports limited quantities of Mexican rice, mainly for use in Mexican cuisine and restaurants.

The latest initiative reflects the Kingdom’s position as one of the world’s largest rice consumers, with per capita consumption averaging 45.77 kilograms annually, the highest among plant-based food products.

Around 70 percent of consumption consists of basmati rice, while total annual imports exceed 1.3 million tons.

According to the information obtained by Asharq Al-Awsat, the Saudi Ministry of Foreign Affairs received a request from the Mexican Embassy in Riyadh conveying the interest of the Mexican state of Nayarit in exporting premium rice to the Saudi market.

The embassy said three varieties are available for export: Super Extra Whole Grain Rice (long grain) with a monthly supply of 120 tons; Milagro Super Extra Rice (polished broad grain) with a capacity of 30 tons per month; and Morelos rice, an additional premium-grade variety.

Saudi Arabia has previously taken steps to encourage private-sector imports of Cambodian rice in a move aimed at diversifying supply sources alongside imports from India, Pakistan, the United States and Egypt.

Strong demand for favored rice varieties in Saudi Arabia and across the Gulf, combined with challenges such as rising shipping costs and climate-related disruptions, has occasionally led to price fluctuations. These factors have prompted the Kingdom to broaden its supplier base to ensure the availability of this commodity and maintain price stability.

The government recently decided to increase Pakistani rice imports to account for 20 percent of total needs, reinforcing supply stability and food security.

Forecasts suggest that per capita rice consumption in Saudi Arabia could rise to around 50 kilograms annually in the coming years, up from the current 45.77 kilograms, underscoring rice’s central role in the Kingdom’s food industry and traditional cuisine.


Capricorn Energy Sees Production Boost, Driven by Growth in Egypt

People run to catch a tram in the coastal city of Alexandria, on February 18, 2026. (Photo by Khaled DESOUKI / AFP)
People run to catch a tram in the coastal city of Alexandria, on February 18, 2026. (Photo by Khaled DESOUKI / AFP)
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Capricorn Energy Sees Production Boost, Driven by Growth in Egypt

People run to catch a tram in the coastal city of Alexandria, on February 18, 2026. (Photo by Khaled DESOUKI / AFP)
People run to catch a tram in the coastal city of Alexandria, on February 18, 2026. (Photo by Khaled DESOUKI / AFP)

Oil producer Capricorn Energy said on Monday it expects higher production in 2026 compared with last year, supported by the expansion of its Egypt operations.

In May, the Scottish company and Egyptian General Petroleum Corporation (EGPC) agreed to merge eight concessions ⁠in Egypt into a ⁠single deal under a joint venture with Cheiron Oil and Gas.

Capricorn expects 2026 production in the range of 18,000-22,000 barrels ⁠of oil equivalent per day (boepd), boosted by the agreement with EGPC and growth in the region.

Capricorn CEO Randy Neely said, "We have entered 2026 with strong momentum as our 2025 exit rate of 21,003 boepd and robust balance sheet ⁠position ⁠us to capitalize on development opportunities on the merged concession."

According to Reuters, Capricorn Energy also said it continues to evaluate M&A opportunities in the UK North Sea, Egypt and general MENA region.

The company forecast 2025 production between 17,000 and 21,000 boepd.