‘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.



Taiwan Business Group Urges Beijing, Taipei to Keep Politics Out of Trade

A person looks at a stock market graph inside the Taiwan Stock Exchange in Taipei, Taiwan, 20 April 2026. (EPA)
A person looks at a stock market graph inside the Taiwan Stock Exchange in Taipei, Taiwan, 20 April 2026. (EPA)
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Taiwan Business Group Urges Beijing, Taipei to Keep Politics Out of Trade

A person looks at a stock market graph inside the Taiwan Stock Exchange in Taipei, Taiwan, 20 April 2026. (EPA)
A person looks at a stock market graph inside the Taiwan Stock Exchange in Taipei, Taiwan, 20 April 2026. (EPA)

The head of one of Taiwan's top business groups said on Monday both Beijing and Taipei should leave politics out of resuming normal trade and tourism exchanges, after China unveiled new incentives for the island.

China, which views democratically-governed Taiwan as its own territory, announced measures this month which include easing tourism curbs and food imports, but said they had to be based on "opposing Taiwan independence".

China refuses to talk to Taiwan President Lai ‌Ching-te saying he ‌is a "separatist", and has stepped up political and economic ‌pressure ⁠in recent years, ⁠targeting tourism and imports of food, as well as holding regular war drills.

"As soon as there is an opening up, it should be as much as possible be systematic and normalized to maintain the long-term stability of business and trade exchanges," said Paul Hsu, chairman of the General Chamber of Commerce.

Flanked by representatives of the tourist and food sectors, he ⁠urged China to ensure stability in trade ties ‌rather than sudden stops and starts, in ‌comments to reporters in Taipei.

No matter which political party runs a city ‌or county, China should offer equal treatment, especially in southern Taiwan, ‌Hsu added, referring to a stronghold of Lai's Democratic Progressive Party.

China's Taiwan Affairs Office did not immediately respond to a request for comment.

China's new steps came at the end of a visit to Beijing by Taiwan opposition leader Cheng Li-wun, ‌which she described as a journey of peace, on which she met President Xi Jinping.

Taiwan's government should ⁠also "proactively face" China's offers ⁠of opening up, Hsu's group, which represents more than a million companies, said in a statement accompanying the remarks.

Group members' votes would go to whoever was good for Taiwan industry, Hsu said, adding that he was representing non-partisan industry voices.

"As long as you put forth good policies, we will offer support. But if you stand against us, I'm sorry, I can't support you. We have a vote - we are a democratic society."

Taiwan will hold key local elections in November, with the next presidential vote scheduled for early 2028.

On Sunday, Taiwan's China-policy making Mainland Affairs Council said the government would address the "reasonable demands" of industry, but warned it not to "become tools manipulated and exploited by the Chinese communists".


Oil Prices and Stocks Climb as US-Iran Standoff Keeps Strait of Hormuz in Limbo

 Tankers and gas carriers anchored in the Strait of Hormuz, Saturday, April 18, 2026. (AP)
Tankers and gas carriers anchored in the Strait of Hormuz, Saturday, April 18, 2026. (AP)
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Oil Prices and Stocks Climb as US-Iran Standoff Keeps Strait of Hormuz in Limbo

 Tankers and gas carriers anchored in the Strait of Hormuz, Saturday, April 18, 2026. (AP)
Tankers and gas carriers anchored in the Strait of Hormuz, Saturday, April 18, 2026. (AP)

Oil prices climbed more than 5% while Asian shares also advanced Monday as a standoff between Iran and the US prevented tankers from using the Strait of Hormuz.

The Gulf waterway was closed again after Iran reversed a decision to reopen the strait and President Donald Trump said a US Navy blockade of Iranian ports remains in effect.

US benchmark crude gained 5.6% to $87.20 a barrel, while Brent crude, the international standard, was up 5.3% at $95.16 a barrel.

Despite renewed doubts about how soon ships will again transport the vast amounts oil the world gets from the Middle East, share prices were mostly higher in Asia.

In Tokyo, the Nikkei 225 gained 1% to 59,045.45, while South Korea's Kospi was up 1.1% at 6,260.92.

Hong Kong's Hang Seng added 0.8% to 26,373.71 and the Shanghai Composite index advanced 0.6% to 4,075.08.

Australia's S&P/ASX 200 was nearly unchanged at 8,943.90.

In Taiwan, the Taiex jumped 1.4%.

“The problem for markets is not the absence of hope; it is the overpricing of it,” Stephen Innes of SPI Asset Management said in a commentary. “The latest move higher in equities has started to feel less like conviction and more like momentum feeding on itself.”

On Friday, oil prices had dropped back to where they were in the early days of the Iran war, and US stocks raced to a fresh record after Iran said the strait was open again for commercial tankers carrying crude from the Gulf to customers worldwide.

A freer flow of oil could relieve pressure on prices for gasoline and all kinds of other products that get moved by vehicles. It could even ultimately help people pay less on credit-card interest and mortgage bills.

The S&P 500 leaped 1.2% to an all-time high of 7,126.06, closing out a third straight week of big gains, its longest streak since Halloween.

The Dow Jones Industrial Average surged 1.8% to 49,447.43. The Nasdaq composite climbed 1.5% to 24,468.48.

The US stock market has jumped more than 12% since hitting a bottom in late March on hopes the United States and Iran can avoid a worst-case scenario for the global economy despite their war.

The price for a barrel of benchmark US crude had plunged 9.4% after Iran’s foreign minister, Abbas Araghchi, posted on X that passage for all commercial vessels through the strait “is declared completely open” as a ceasefire appears to be holding in Lebanon.

Brent crude fell 9.1%.

After Araghchi's announcement, Trump said on his social media network that the US Navy’s blockade of Iranian ports remained “in full force” pending a deal on the war, though he also suggested that “should go very quickly in that most of the points are already negotiated.”

President Donald Trump said Sunday that the US had seized an Iranian-flagged cargo ship that tried to get around a naval blockade. Iran’s joint military command said Tehran would respond soon and called the US seizure an act of piracy.

A fragile, two-week ceasefire between the US and Iran is set to expire Wednesday, while escalating tensions in the Strait of Hormuz raises questions over new talks to end the war.

Since the war began, market sentiment has swung between optimism and gloom over when the fighting will end and what costs the world economy will endure. A strong start to the earnings reporting season for big US companies has helped support stocks.

In other dealings early Monday, the US dollar rose to 158.90 Japanese yen from 158.79 yen. The euro climbed to $1.1757 from $1.1742.


US Energy Chief Says Gas Prices Could Stay Above $3 per Gallon Until Next Year

 Department of Energy Secretary Chris Wright testifies during a House Energy and Commerce subcommittee hearing on Capitol Hill Thursday, April 16, 2026, in Washington. (AP)
Department of Energy Secretary Chris Wright testifies during a House Energy and Commerce subcommittee hearing on Capitol Hill Thursday, April 16, 2026, in Washington. (AP)
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US Energy Chief Says Gas Prices Could Stay Above $3 per Gallon Until Next Year

 Department of Energy Secretary Chris Wright testifies during a House Energy and Commerce subcommittee hearing on Capitol Hill Thursday, April 16, 2026, in Washington. (AP)
Department of Energy Secretary Chris Wright testifies during a House Energy and Commerce subcommittee hearing on Capitol Hill Thursday, April 16, 2026, in Washington. (AP)

US Energy ‌Secretary Chris Wright said on Sunday he believes gas prices have peaked but predicted that they may stay above $3 per gallon until next year.

Gas prices have risen during the US and Israeli war on Iran and Iranian attacks on nearby countries, creating political headwinds for President Donald Trump ahead of the November midterm elections, where his Republican Party will defend slim majorities in the Senate and House of Representatives.

Gas below $3 a gallon "could happen later this year, that might ‌not happen until ‌next year. But prices have likely ‌peaked, and ⁠they'll start going ⁠down," he told CNN’s "State of the Union" program. "Certainly with the resolution of this conflict, you’ll see prices go down."

Trump administration officials have offered differing views on how gas prices may shift. Treasury Secretary Scott Bessent last week predicted gas prices would fall to the $3 per gallon range this summer, ⁠while Wright on Sunday laid out a ‌lengthier likely timeline to reach that ‌price.

Trump himself has said that gas prices may remain ‌elevated until November.

All of them have said gasoline will eventually ‌get cheaper once the Iran war ends. "Under $3 a gallon is pretty tremendous in inflation-adjusted terms," Wright said. "We'll get back there for sure."

The average price for a gallon of regular gas on Sunday ‌was $4.05, according to an estimate by AAA, compared to $3.16 a year ago.

The US and Iran ⁠on ⁠Thursday agreed to a 10-day ceasefire, but Trump on Sunday accused Iran of violating it with attacks on ships in the Strait of Hormuz this weekend. US officials will arrive in Pakistan for further negotiations on Monday, Trump wrote in a social media post.

"We're offering a very fair and reasonable DEAL, and I hope they take it because, if they don’t, the United States is going to knock out every single Power Plant, and every single Bridge, in Iran," he posted, revisiting a threat he had made prior to the ceasefire.