Regardless of the numbers, the pressure of negotiating with the U.S. is putting a spotlight on an ongoing rice crisis in Japan and spurring the possibility of a policy shift for a market historically reluctant to change.

With time running out on his 90-day tariff pause, Donald Trump and his team have yet to announce a new trade agreement.

No country holds more provable Treasury debt than Japan with roughly $1.1 trillion, equivalent to a quarter of its entire economy.