Japan is ready to hold talks with the United States over the contentious issue of steel trade, International Trade and Industry Minister Kaoru Yosano said Friday.
Speaking at a regular news conference, Yosano acknowledged that Washington is proposing the two nations hold bilateral talks over Japan's steel exports to the U.S.
Washington's proposal is a result of the U.S. steel industry's allegation that it has been damaged by an increase in low-priced steel imports from Japan and other countries.
In recent months, the U.S. steel industry has called on Washington to conduct antidumping investigations into almost all steel products from a number of countries, including Japan.
With the proposal, Washington is apparently seeking to address special treatment such as tax breaks that is likely to be given to Japan's steel industry by the Japanese government under proposed legislation to strengthen industrial competitiveness.
Yosano said it is "useful" for both sides to exchange general information such as the state of steel markets and price trends in the two countries.
However, he said Japan has no intention of discussing the planned tax breaks for disposing of excess capacity.