Confirmed with U.S. trade talks to be based on September statement: Japan economy minister
WASHINGTON - Japan’s economy minister said he had “frank and good” trade talks with his U.S. counterpart on Monday, but stressed that currency rates should be discussed in a different context, between finance ministers.
Trump has made clear he is unhappy with Japan’s $68 billion trade surplus with the United States - much of it from auto exports - and wants a two-way agreement to address it. U.S. Treasury Secretary Steven Mnuchin said over the weekend he sees good cooperation with Japan on exchange rates, looking to include a currency provision in any trade agreement to avoid currency manipulation.
“We had a frank and very good exchange of views on trade issues,” Motegi told reporters. He declined to be more specific, but said he would explain the contents of their talks after the second day of talks on Tuesday.“The U.S. probably doesn’t want to spend much time on trade talks with Japan and wants an early achievement,” said Junichi Sugawara, senior research officer at Mizuho Research Institute.
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