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 unusual...
Japanese Finance Minister Satsuki Katayama disclosed a crucial summit discussion between President Donald Trump and Japanese Prime Minister Sanae Takaichi regarding the weakening Japanese yen. At the summit held in New York during the UN General Assembly, Trump expressed his concerns about the yen's depreciation. Katayama confirmed that the leaders had discussed the foreign exchange issue, reaffirming their joint stance from their July intervention to curb excessive volatility.
The U.S. Treasury Secretary Scott Bessent and Katayama pledged to continue close communication on currency matters following the summit. After the announcement, the yen initially strengthened before stabilizing around 157.20 per dollar. The weakened yen is causing increased energy import costs and inflation concerns, a challenge for both Japan and the U.S. Critics argue that Japan's reflation policies, similar to the earlier Abenomics, may be contributing to economic instability.
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