U.S. Does Not Seek Currency Targets in Talks with Japan

Washington, April 24 (Jiji Press)--U.S. Treasury Secretary Scott Bessent did not make any demands on setting currency rate targets or a foreign exchange management framework during a meeting with Japanese Finance Minister Katsunobu Kato in Washington on Thursday, Kato said.

"We reaffirmed that foreign exchange rates are decided in the market and that their excessive fluctuations have negative effects," Kato said at a press conference after the meeting.

The administration of U.S. President Donald Trump has complained of other countries' apparent efforts to guide their currencies lower. Bessent had been expected to make some kind of demands on exchange rates during the meeting with Kato.

Kato said Japan and the United States "will continue to consult closely on exchange rates."

The Japanese side told Bessent that Trump's sweeping tariffs are "extremely regrettable" and called on Washington to reconsider the measures, Kato said.

[Copyright The Jiji Press, Ltd.]