Akazawa is mainly reaffirming that even with the deadline closing in, that shouldn't mean that Japan should compromise its position and stance in trade talks with the US. He told reporters earlier today that:

"To avoid any misunderstanding, I would like to confirm that I have not said at all that July 9 is the deadline for negotiations between Japan and the US."

In response to whether there will be any extensions to the deadline, Akazawa didn't answer on that. So if Trump really does want to go hard, he can seek to reimpose the 24% initial reciprocal tariffs on Japan again. But all else being equal, it is likely we'll see the can kicked down the road. And not just for Japan, but almost every other country as well.

Source: Forex Live