Former U.S. Ambassador to Japan William Hagerty has sounded an optimistic note about the course of the ongoing tariff negotiations between the two countries.

"The odds are high that the U.S. and Japan can come to an agreement," he said in an interview.

"I know from experience that it is possible for us to obtain agreement," Hagerty said, noting that the two countries have concluded two very important trade deals — one focusing on agricultural goods and the other on digital trade with a very important strategic component.