The 30-minute meeting was joined by economic revitalisation minister Ryosei Akazawa, Japan's chief tariff negotiator, and members of a US delegation who will attend the United States' "national day" event at the ongoing World Exposition in the western city of Osaka on Saturday.
During the meeting, Ishiba said he expects Bessent and Akazawa to actively engage in tariff talks to reach a mutually beneficial agreement.
Bessent responded that both sides can certainly reach a good agreement, according to Ishiba.
Speaking to reporters after the meeting, Ishiba expressed his willingness to conclude the tariff negotiations at a summit with US President Donald Trump. "There'll surely be an opportunity for me to hold direct talks with President Trump, in which our national interests will be at stake," he said.
Bessent wrote in a social media post, "A good deal is more important than a rushed deal, and a mutually beneficial trade agreement between the United States and Japan remains within the realm of possibility."
The meeting took place just two days before Sunday's election for Japan's House of Councillors. As the ruling bloc is reportedly struggling to maintain its Upper House majority, Ishiba has indicated in a campaign speech that his administration would not easily compromise in the tariff negotiations.
Among aides to the prime minister, there were expectations that a breakthrough in the stalled talks, if achieved at Friday's meeting, could give a boost to the ruling bloc ahead of the election.
The US government appears to believe that it is difficult to win a compromise from the Ishiba administration before the election and even suspects that the negotiations could go back to square one, depending on the election's results.
On Saturday, Akazawa is seen seeking to meet with Bessent in Osaka, but it seems difficult for them to make progress in the negotiations.
[Copyright The Jiji Press, Ltd.]