TOKYO (Reuters) - Japan's top trade negotiator, Ryosei Akazawa, could travel to Washington as soon as next week for a third round of trade talks with the U.S., two sources with knowledge of the plans told Reuters on Thursday.

The third round of high-level tariff negotiations between Japan and the United States might convene next week, according to a news report. Ryosei Akazawa, Japan’s chief tariff negotiator, is making arrangements to visit Washington as early as next Thursday for talks with his U.S. counterparts, TV Asahi reported Wednesday.

Japan’s economy likely suffered a contraction in the first three months of this year, signaling underlying fragility even before US tariff measures started hitting the country in earnest, according to economists surveyed by Bloomberg.

His remarks echoed comments made on Sunday during his appearance on a Fuji Television program, where he emphasized that Japan's call for the elimination of automobile tariffs remains unchanged. He also noted that Japan differs from the United Kingdom in terms of trade and investment relationships with the US.

Japan’s second-largest lender expects net income to climb about 10% to ¥1.3 trillion in the year that started in April.

Japan’s finance minister says the nation’s massive holdings of U.S. Treasurys can be “a card on the table” in negotiations over tariffs with the Trump administration.

Japan’s Trade Minister Yoji Muto will skip a gathering of trade chiefs this week, a decision that will likely lower Tokyo’s chances of holding meaningful bilateral talks with US Trade Representative Jamieson Greer on the sidelines of the meeting.

Japan is considering a package of proposals to gain US concessions. Read more at straitstimes.com. Read more at straitstimes.com.

Washington is retaining the 10 per cent baseline tariff on UK imports, whereas Japan is aiming for zero levy for its exports to the US.