Japan, US agree to have FX matters in the hands of finance chiefs, Ishiba says
U.S. President Donald Trump meets with Japan's Prime Minister Shigeru Ishiba at the White House in Washington, U.S., February 7, 2025. REUTERS/Kent Nishimura
TOKYO : Japanese Prime Minister Shigeru Ishiba said he agreed with U.S. President Donald Trump that the two countries will leave foreign exchange-rate matters in the hands of their 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 told a news conference after his meeting with Trump on Friday, on currency rate matters.
In a video conference call last month, Japanese Finance Minister Katsunobu Kato and U.S. Treasury Secretary Scott Bessent agreed to cooperate on issues including currency rates.
Some analysts have said prior to the summit that Trump could express displeasure over the weak yen as a factor that boosts the dollar and makes U.S. exports less competitive abroad.
Japanese policymakers have been sensitive to the risk of Trump making explicit comments about the yen and causing market volatility that could hurt its fragile economic recovery.
