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2 months ago
19
Source: AFP
US Treasury Secretary Scott Bessent said Wednesday that Washington has "no currency targets" successful its talks with Japan connected tariffs, aft repeated calls from President Donald Trump for a stronger yen.
Japanese media reported meantime that a 2nd circular of talks successful Washington was acceptable for May 1, which volition beryllium intimately watched arsenic a barometer for efforts by different countries seeking tariff relief.
Bessent said Washington is looking astatine "tariffs, non-tariff commercialized barriers, currency manipulation and authorities subsidy of labour and fixed superior investment" successful the negotiations with Japan.
But helium added that determination were "absolutely nary currency targets."
Japanese Finance Minister Katsunobu Kato said helium was acceptable for "close consultations astir speech rates" with Bessent erstwhile they conscionable Thursday connected the sidelines of an IMF gathering successful Washington, Japanese media reported.
A anemic yen makes Japanese exports comparatively cheaper, portion a beardown dollar means that US exports are little competitive.
The yen roseate importantly since Trump's tariffs were announced -- it was trading astatine 158 for a dollar successful mid-January.
The adjacent US state and world's fig 4 economy is taxable to the aforesaid 10 percent baseline tariffs that person been imposed connected astir countries, positive steeper levies connected cars, alloy and aluminum.
Trump besides imposed "reciprocal" tariffs connected Japan of 24 percent, but those person been paused for 90 days on with those connected different countries but China.
Japan's envoy Ryosei Akazawa met Trump and different elder US officials past week, and Japanese media reported Thursday that helium volition instrumentality for different circular connected May 1.
Japanese broadcaster NHK connected Thursday quoted unnamed sources arsenic saying that US negotiators person said Washington cannot marque exceptions for Japan.
Other media reports person suggested that Tokyo is eyeing concessions specified arsenic expanding imports into Japan of US atom and soybeans arsenic good arsenic easing car information rules.
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Source: AFP
