Japan, US to Keep Forex Matters in Hands of Finance Ministers: Ishiba
TOKYO (Reuters) - Japanese Prime Minister Shigeru Ishiba has agreed with US President Donald Trump to leave foreign exchange rate matters to their respective finance ministers.
"As was the case during the first Trump administration, we decided to continue close discussions between the Japanese and U.S. finance leaders, who are the experts," Ishiba said at a press conference on Friday after his meeting with Trump.
In a video conference last month, Japanese Finance Minister Katsunobu Kato and US Treasury Secretary Scott Bessent agreed to cooperate on issues including currency rates.
Some analysts had suggested Trump might express displeasure over the weak yen, which boosts the dollar and potentially undermines the competitiveness of US exports. Japanese policymakers are sensitive to the possibility of Trump making explicit comments about the yen that could trigger market volatility and harm the country's fragile economic recovery.