Japan's top tariff negotiator, Ryosei Akazawa, held detailed phone discussions with U.S. Commerce Secretary Howard Lutnick on Thursday and Saturday in a bid to ease trade tensions. The talks come just days before a 24% reciprocal tariff on Japanese imports is set to expire on July 9.

The Japanese government has informed the United States that its chief negotiator intends to conduct an eighth round of ministerial-level talks in Washington early next week, a source close to the matter said Thursday.

The Japanese yen slipped 0.16 percent to 143.87 per dollar, but losses were limited by broader weakness in the US dollar and hopes for progress in trade talks. While Japan