Prime Minister Shigeru Ishiba spoke with U.S. President Donald Trump on Monday night from Tokyo by phone to discuss tariffs that have unsettled the markets and may cause significant economic damage globally.

During the call, which started at 9:01 p.m. and lasted 25 minutes, Ishiba conveyed Tokyo’s position that the tariffs imposed by the U.S. are “extremely regrettable,” and again asked the U.S. to “reconsider” the levies it has imposed on Japan.

He also stressed Japan’s status as the largest foreign direct investor in the U.S. for five consecutive years through 2023, and warned that the tariffs could "weaken investment capacity" of Japanese companies.