Japan says Trump voiced concern over weak yen in summit with PM Takaichi
US President Donald Trump raised concerns about yen weakness at a summit with Japanese Prime Minister Sanae Takaichi, Japan’s Finance Minister Satsuki Katayama said on Friday, offering an unusually detailed account of the leaders’ talks on currencies. “At the recent Japan-US summit meeting, President Trump expressed concern about the yen’s weakness,” Katayama said at a regular news conference,…
During a recent summit between US President Donald Trump and Japanese Prime Minister Sanae Takaichi, US Finance Minister Satsuki Katayama provided new insights into the discussions that took place. Katayama stated that Trump expressed concerns about the weakness of the Japanese yen. This exchange had been kept confidential by governments and not previously disclosed.
Takaichi echoed Trump's concerns during a subsequent interview. Although they discussed China as well, there was no mention of monetary or fiscal policy during this summit. Katayama emphasized that the shared US-Japan stance, which was reaffirmed after the meeting, involved efforts to counter excessive volatility and disorderly movements in the yen.
Treasury Secretary Scott Bessent and Katayama confirmed that they would continue to communicate closely on a range of matters, including foreign exchange. This mutual concern over the weak yen was evident as they agreed to strengthen bilateral cooperation to address the issue. The dollar has been gaining strength against the yen and other major currencies due to strong US economic data, a hawkish Federal Reserve, and rising US bond yields.
This trend has been driven by the ongoing concerns over the yen's value, which is exacerbating energy import costs and inflation fears.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
