No plan to renegotiate $550b deal with US: Takaichi

Japanese Prime Minister Sanae Takaichi said on Saturday that she had no plans to renegotiate a $550 billion investment package deal reached with the United States.

“I believe that even if the prime minister changes, promises made between governments should not be altered,” Takaichi told reporters at the end of a week of diplomatic events including a summit with US President Donald Trump.

Takaichi declined to comment on a trade deal that South Korea had inked with the United States, as details of the deal have not been disclosed yet.

Before becoming prime minister last month, Takaichi had said that tariff renegotiation with Washington was not off the table if something came up that seemed unfair and hurt Japan’s national interests.

Hardline conservative Takaichi was elected as Japan’s first female prime minister, breaking a political glass ceiling for women while also setting the country up for a decisive turn to the right.

In Gyeongju, South Korea, Takaichi joined other leaders from around the Asia-Pacific region for an annual gathering and met Chinese President Xi Jinping and South Korean President Lee Jae Myung.

Takaichi said on Saturday that she and Xi had agreed to build a constructive and stable relationship.

Xi told Takaichi that the two countries should not be a threat to each other, according to Chinese state media.

Before her South Korea trip, Takaichi held her first bilateral meeting with Trump in Tokyo.

She said she had “frank, direct discussions and built personal relationships” with Trump.

Chips discussion: Taiwan’s representative to the APEC summit, Lin Hsin-i, said on Saturday he and US Treasury Secretary Scott Bessent discussed supply chains and semiconductors during a meeting on the sidelines of the event in South Korea.

The island’s exports to the United States, apart from semiconductors, are currently subject to a 20% tariff, though Taipei has been in talks to get the figure reduced.

Lin, a former economy minister, told reporters in the city of Gyeongju that the two discussed safe supply chains and tech cooperation during a 40-minute meeting, adding that Bessent was interested in hearing how Taiwan built its chip industry.

The two “had a very wide-ranging discussion, covering cooperation in technology, the security of supply chains, and many other issues,” Lin said.

“He said, ‘I was really intrigued to hear how you built up your high-tech semiconductor cluster - how it developed and the history behind it’. He listened with great interest.” The US Treasury Department did not immediately respond to a request for comment outside office hours in Washington. Like most countries, the United States has no formal diplomatic ties with Taiwan, but is the democratically-governed island’s most important international backer and arms supplier.

President Donald Trump left South Korea after a meeting with Chinese President Xi Jinping before the gathering’s summit of leaders began, leaving Bessent to lead the US delegation.

On Friday night, Japanese Prime Minister Sanae Takaichi posted a picture on X in which she greeted Lin at the summit.

The Asia Pacific Economic Cooperation (APEC) grouping is one of the few international bodies Taiwan takes part in, although under the name “Chinese Taipei”, to avoid political problems with China, which views the island as its own territory.

Lin did not answer questions on whether he had talked to Xi.

Taiwan’s official Central News Agency said Lin had no interaction with Xi at the closing ceremony’s group photograph for leaders and country representatives, even though both were on the same stage.

At last year’s summit in Peru, Lin greeted Xi with a wave but they did not speak. Lin also met then-U.S. President Joe Biden in Lima.

APEC China will host next year’s APEC meet in the southern manufacturing hub of Shenzhen, which turns out everything from robotics to electric cars.

China provided written assurances last year about the safety of participants in that summit, Taiwan foreign ministry official Jonathan Sun told the same news conference.

Taiwan has worked within the APEC framework “to ensure that China fulfils its commitments - so that the meetings can proceed smoothly, and the safety of all participants is fully protected,” he added. China’s foreign ministry did not immediately respond to a request for comment.

Reuters