Trump Warns Japan on Weak Yen Amid Global Market Turmoil
US President Donald Trump expressed concern about Japan's weak yen during a summit meeting with Japanese Prime Minister Sanae Takaichi, Finance Minister Satsuki Katayama said.
Katayama revealed that Trump's comment came during their recent meeting in New York on the sidelines of the UN General Assembly. She added that Prime Minister Takaichi told him that an undervalued yen is problematic.
The weak yen has been driving up energy import costs, which are already elevated due to the US-Israeli war on Iran. This has raised concerns about inflation overshoots for both Japanese policymakers and the US government.
Treasury Secretary Scott Bessent will continue to communicate closely with Katayama on foreign exchange matters, including countering excessive volatility and disorderly moves in the yen.