Today, Secretary of the Treasury Scott K.H. Bessent held a meeting with Japan's Finance Minister Katsunobu Kato during the G7 Finance Ministers and Central Bank Governors meetings in Banff, Canada.
The discussions between Secretary Bessent and Minister Kato focused on key issues concerning the economic relationship between the United States and Japan. Topics included global security and ongoing bilateral trade discussions.
Additionally, they continued their longstanding dialogue on currency issues. Both officials reaffirmed their shared belief that exchange rates should be determined by market forces and stated that the current dollar-yen exchange rate reflects fundamentals. As in previous meetings, they did not discuss specific foreign exchange levels.
