Japan and the United States appointed chief tariff negotiators just hours after a brief call between the leaders of the two countries set the stage for the de-escalation of a crisis spinning out of control for days.

Ryosei Akazawa, minister in charge of economic and fiscal policy, will spearhead talks with the U.S., Chief Cabinet Secretary Yoshimasa Hayashi told reporters Tuesday after the first ministerial meeting on the new tariffs.

“The prime minister made a judgement based on minister Akazawa’s jurisdiction, his skills and experience, among other things,” Hayashi said, without adding any specifics on the start of the negotiations or the timing of a potential visit to the U.S. by Akazawa.　

The U.S. earlier appointed Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer to lead negotiations with Japan, Bessent announced in an X post on Monday.

“Japan remains among America’s closest allies, and I look forward to our upcoming productive engagement regarding tariffs, non-tariff trade barriers, currency issues and government subsidies,” Bessent posted, while thanking the Japanese government for its “outreach and measured approach.”

During a TV interview with Fox Business on Monday, Bessent said he expects Japan to get priority in the negotiations as it was quick to reach out and agree to enter into productive discussions. Dozens of countries have indicated a willingness to come to the table, he said.

“Japan is a very important military ally. They are a very important economic ally, and the U.S. has a lot of history with them,” Bessent said. “I would expect that Japan’s going to get priority, just because they came forward very quickly.”

On Monday evening in Tokyo, Prime Minister Shigeru Ishiba spoke with U.S President Donald Trump for the first time since the U.S. rolled out the new tariffs, which target almost every country in the world, and set the rate for Japan at 24%.

The two leaders agreed to keep dialogue open to address the pressing levy issues.

During the call, which started at 9:01 p.m. on Monday and lasted 25 minutes, Ishiba conveyed Tokyo’s position that the tariffs imposed by the U.S. are “extremely regrettable,” and again asked the U.S. to “reconsider” them.

The prime minister also sent a veiled warning that the tariffs could "weaken investment capacity" of Japanese companies, and underscored Japan’s status as the largest foreign direct investor in the U.S. for five years in a row.

A visit by Ishiba to the U.S. will be coordinated depending on progress made in the negotiations, Hayashi told reporters on Tuesday morning. Ishiba has signaled that he’s willing to travel to Washington for in-person talks with Trump at “the most appropriate timing.”

“President Trump responded by candidly acknowledging the current situation facing the United States in the international economy,” Ishiba told reporters after the call, adding that the two confirmed that the two governments will continue “candid and constructive discussions” going forward.

At an all-hands-on-deck ministerial meeting on the tariffs on Tuesday morning, Ishiba instructed the authorities to continue diplomatic efforts in responding to the Trump tariffs.

Trump reacted quickly after the call with a blunt post alleging Japan treats the U.S. “very poorly” on trade.

“Countries from all over the World are talking to us. Tough but fair parameters are being set,” Trump wrote on his Truth Social account. “Spoke to the Japanese Prime Minister this morning. He is sending a top team to negotiate! They have treated the U.S. very poorly on Trade. They don’t take our cars, but we take MILLIONS of theirs.”

Markets reacted positively to the latest turn of events, with Japan’s benchmark 225-issue Nikkei stock index rising 6.03%, or 1,876 points, on Tuesday. It was the fourth-biggest point gain ever.