TOKYO (Reuters) -Japanese Finance Minister Katsunobu Kato said the bilateral trade deal with the United States did not include reference to foreign exchange rates, Kyodo news agency reported on Wednesday. Kato made the remarks to reporters at Japan’s Ministry of Finance, according to Kyodo. President Donald Trump’s focus on addressing the U.S. trade deficit and […]
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Japan says forex not included in trade deal with US, Kyodo reports
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TOKYO (Reuters) -Japanese Finance Minister Katsunobu Kato said the bilateral trade deal with the United States did not include reference to foreign exchange rates, Kyodo news agency reported on Wednesday.
Kato made the remarks to reporters at Japan’s Ministry of Finance, according to Kyodo.
President Donald Trump’s focus on addressing the U.S. trade deficit and his past remarks accusing Japan of intentionally maintaining a weak yen have fuelled expectations that Tokyo would face pressure to strengthen the yen against the dollar to give U.S. manufacturers a competitive advantage.
Kato has discussed exchange rate matters with U.S. Treasury Secretary Scott Bessent in talks Tokyo has described as separate from bilateral negotiations on tariffs and trade.
(Reporting by Leika Kihara; Editing by Tom Hogue)