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EXCERPT:
Japanese Finance Minister Satsuki Katayama said Tuesday she agreed with U.S. Treasury Secretary Scott Bessent to closely coordinate on movements in the currency market during talks held after a recent intervention to stem the yen’s depreciation against the dollar.
The financial chiefs also discussed ways to respond to China’s export controls on critical minerals amid the economic powerhouse’s dominance and the growing cybersecurity threat posed by sophisticated artificial intelligence ahead of U.S. President Donald Trump’s two-day meeting with Chinese President Xi Jinping in Beijing from Thursday.
“We are in good coordination regarding recent currency movements” amid the Middle East conflict, Katayama told reporters after meeting Bessent at the Finance Ministry in Tokyo, noting that Japan’s stance has been “fully supported.”
