Wednesday, March 12, 2025 — Asia Society Policy Institute (ASPI) has released “The Japan-U.S. Alliance at a Pivotal Moment and the Path Ahead,” a report that explores key takeaways from a conference held on January 15 in New York. The conference, consisting of two public panels and three private sessions under Chatham House Rule, explored the U.S.-Japan alliance at a pivotal moment and delved into the security-related and economic implications for the two allies.

“The conference revealed a broad sense among the participants that the U.S.-Japan alliance remains intact and will advance the agenda of deepening bilateral defense cooperation and expanding investment and trade ties. Less clear is if the global aspect of the partnership will continue to thrive as Tokyo adjusts to President Trump’s America First foreign policy,” writes Emma Chanlett-Avery, ASPI’s Director of Political-Security Affairs and Deputy Director of the Washington D.C. Office.

Rapporteurs documented the following as key takeaways from the three private roundtables:

Despite a successful leaders’ summit early in the new Administration, policy moves and President Trump statement's since then have dimmed initial hopes for the U.S.-Japan alliance to continue the momentum generated by the Biden Administration relationship with Japan.Japan is likely to continue its aggressive investment in the United States as a bid for Washington’s favor, including hoping to avoid the threatened aluminum and steel tariffs.The global aspect of the U.S.-Japan relationship may diminish based on different views on Ukraine and Russia, but as the Trump team develops its Indo-Pacific strategy, potential for continued regional cooperation exists through the Quad, the trilateral relationship with the Philippines, and—most tenuously—the trilateral agreement with South Korea.

Dr. Jennifer Lind of Dartmouth College moderated the roundtable on the changing international security environment in the Indo-Pacific, Financial Times correspondent Demetri Sevastopulo moderated the conversation on how the U.S. and Japan approach Taiwan, and Matthew Goodman of the Council on Foreign Relations moderated the roundtable on trade relations and economic security in the region.

Dive into the conclusions from each roundtable by reading the full report. Members of the media interested in learning more about the conference should email [email protected].