US-Japan tariff negotiations entered their third consecutive week with Japanese negotiator Akazawa acknowledging no middle ground had been found despite claiming progress. The talks occurred at twice the frequency of the 2019 trade agreement negotiations, with five rounds completed in two months. Japan signaled it would not wait for the G7 summit to conclude a bilateral deal.
China's rare earth export restrictions continued impacting Japanese manufacturing, with Suzuki halting Swift production following yesterday's supply disruptions. Trump announced he would reveal his next Federal Reserve chair nominee "very soon," suggesting an unprecedented early replacement of Powell before his 2026 term expires.
Domestically, opposition parties prepared joint legislation to abolish provisional tax rates, while the LDP unveiled Tokyo gubernatorial election promises of income-doubling support. Weather forecasters warned of heavy rains approaching Kyushu from June 8th as the rainy season begins. Sushiro announced plans for sea urchin aquaculture facilities to meet growing tourist demand.