Business

Japan is a test case for Trump's tariff deals. But talks may be tortuous.

While some expect an agreement at the June G7 summit in Canada in June, others say it will be risky for Tokyo to cede ground before Upper House elections expected in July.

When Tokyo's top trade negotiator met U.S. President Donald Trump for tariff talks at the White House earlier this month, he presented him with a gold-colored piggy bank.

One detail, seemingly unnoticed by those in the room, is that the gift was made in China, the focal point for Trump's sweeping trade war that has engulfed Japan and dozens of other countries, roiled financial markets and stoked recession fears. As Trump seeks to leverage his tariff threats to strike scores of bilateral deals in a matter of months, the well-traveled present was an unintended reminder of the complexity of the global supply chains he is seeking to redraw..