Japanese Media: US Treasury Secretary to Visit Japan Before Trump-Xi Meeting, Focusing on Yen and Rare Earths
According to Japanese and US diplomatic sources, US Treasury Secretary Scott Bessent is scheduled to visit Japan before the Trump-Xi meeting, holding talks with Japanese Prime Minister Sanae Takaichi, Finance Minister Satsuki Katayama, and Bank of Japan Governor Kazuo Ueda. The discussions are expected to focus on countermeasures against speculative selling of the Japanese Yen and economic security issues such as rare earth and energy procurement.
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(Central News Agency Washington 6th comprehensive foreign report) Japanese media today disclosed that US Treasury Secretary Scott Bessent is expected to visit Japan before the Trump-Xi meeting, and will separately meet with Japanese Prime Minister Sanae Takaichi, Finance Minister Satsuki Katayama, and Bank of Japan Governor Kazuo Ueda. It is anticipated that they will discuss countermeasures against speculative selling of the Japanese Yen.
"Nikkei" cited Japanese and US diplomatic sources reporting Bessent's visit.
Bessent will accompany US President Trump for the US-China leaders' meeting with Chinese President Xi Jinping in Beijing on the 14th and 15th of this month. Before participating in the Trump-Xi meeting, Bessent plans to stay in Japan from the 11th to the 13th of this month.
According to Japanese and US sources, in addition to exchange rate issues, Bessent's trip will also discuss economic security-related issues such as the procurement of rare earths and energy. Furthermore, the situation in Iran may also be mentioned.
Japanese Finance Minister Satsuki Katayama strongly hinted on April 30th that the Tokyo authorities were close to taking market intervention actions to support the Japanese Yen's value. The US Treasury Department stated that it is in "close contact with Japan," indicating that the US side tolerates Japan's intervention in foreign exchange to a certain extent.
Bessent has long paid attention to the issue of speculative selling of the Japanese Yen. The US Treasury Department conducted an "exchange rate check" before foreign exchange intervention in January this year. The US side stated that this action was not at the request of the Japanese government, but was led by Bessent himself.
Monetary authorities are closely watching the situation where rising interest rates and a depreciating Japanese Yen occur simultaneously in Japan. Generally, rising interest rates would increase the attractiveness of investing in the Japanese Yen, thereby promoting its appreciation; however, when rising interest rates and a depreciating Japanese Yen occur at the same time in Japan, it may strengthen speculative behavior and even trigger the risk of US Treasury bonds being sold off.
Counting from his time in the hedge fund industry, Bessent has visited Japan more than 50 times and is known as a pro-Japan figure. His visit to Tokyo next week will be his third visit to Japan since taking office as US Treasury Secretary. (Translated by: Yang Wei-jing) 1150507
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"Nikkei" cited Japanese and US diplomatic sources reporting Bessent's visit.
Bessent will accompany US President Trump for the US-China leaders' meeting with Chinese President Xi Jinping in Beijing on the 14th and 15th of this month. Before participating in the Trump-Xi meeting, Bessent plans to stay in Japan from the 11th to the 13th of this month.
According to Japanese and US sources, in addition to exchange rate issues, Bessent's trip will also discuss economic security-related issues such as the procurement of rare earths and energy. Furthermore, the situation in Iran may also be mentioned.
Japanese Finance Minister Satsuki Katayama strongly hinted on April 30th that the Tokyo authorities were close to taking market intervention actions to support the Japanese Yen's value. The US Treasury Department stated that it is in "close contact with Japan," indicating that the US side tolerates Japan's intervention in foreign exchange to a certain extent.
Bessent has long paid attention to the issue of speculative selling of the Japanese Yen. The US Treasury Department conducted an "exchange rate check" before foreign exchange intervention in January this year. The US side stated that this action was not at the request of the Japanese government, but was led by Bessent himself.
Monetary authorities are closely watching the situation where rising interest rates and a depreciating Japanese Yen occur simultaneously in Japan. Generally, rising interest rates would increase the attractiveness of investing in the Japanese Yen, thereby promoting its appreciation; however, when rising interest rates and a depreciating Japanese Yen occur at the same time in Japan, it may strengthen speculative behavior and even trigger the risk of US Treasury bonds being sold off.
Counting from his time in the hedge fund industry, Bessent has visited Japan more than 50 times and is known as a pro-Japan figure. His visit to Tokyo next week will be his third visit to Japan since taking office as US Treasury Secretary. (Translated by: Yang Wei-jing) 1150507
Choose to stand with facts, every sponsorship of yours is a force to protect press freedom.
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The text, images, and audio-visual content on this website may not be reproduced, publicly broadcast, or publicly transmitted and utilized without authorization.