A: Hey, did you catch up with the latest news?
B: Not yet, what's up?
A: So, Japan's Finance Minister Kato and the US Treasury Secretary had a chat about exchange rates and tariffs!
B: Oh, really? What did they decide?
A: Well, they agreed that market forces should decide exchange rates. But, Kato asked Bessent to review those US tariff measures. They didn't discuss specific exchange rate levels though.
B: Ah, I see. So, no clear solution yet on that front. But what about the trade imbalance? What did they suggest?
A: Kato thinks addressing it shouldn't be done through tariffs. Instead, he believes in boosting domestic demand and cutting the budget deficit. Other countries expressed concerns about the impact of US tariff uncertainty on the global economy.
B: That sounds tricky. I wonder if they'll be able to agree on upholding free trade at their meeting.
A: Yeah, it's going to be interesting to see how that pans out when they issue their joint statement this Friday. Fingers crossed for unity!
----------------
Japan's Finance Minister Kato Katsunobu and US Treasury Secretary Scott Bessent have reaffirmed the principle that exchange rates should be determined by the markets.
Kato and Bessent met for about 30 minutes on Wednesday on the sidelines of the conference of Group of Seven finance ministers and central bank chiefs in Banff, Canada.
Kato told reporters that he asked Bessent for a review of US tariff measures.
Kato said they avoided discussing exchange rate levels and agreed to continue close and constructive talks.
At the Group of Seven finance leaders' meeting, Kato said the trade imbalance should be addressed not by tariffs but by boosting domestic demand and cutting the budget deficit.
Other countries voiced concerns over how the uncertainty surrounding US tariffs would impact the global economy and financial markets.
The finance leaders aim to issue a joint statement when they wrap up their two-day meeting on Friday.
It remains to be seen to what extent the G7 can show unity on upholding free trade.
B: Not yet, what's up?
A: So, Japan's Finance Minister Kato and the US Treasury Secretary had a chat about exchange rates and tariffs!
B: Oh, really? What did they decide?
A: Well, they agreed that market forces should decide exchange rates. But, Kato asked Bessent to review those US tariff measures. They didn't discuss specific exchange rate levels though.
B: Ah, I see. So, no clear solution yet on that front. But what about the trade imbalance? What did they suggest?
A: Kato thinks addressing it shouldn't be done through tariffs. Instead, he believes in boosting domestic demand and cutting the budget deficit. Other countries expressed concerns about the impact of US tariff uncertainty on the global economy.
B: That sounds tricky. I wonder if they'll be able to agree on upholding free trade at their meeting.
A: Yeah, it's going to be interesting to see how that pans out when they issue their joint statement this Friday. Fingers crossed for unity!
----------------
Japan's Finance Minister Kato Katsunobu and US Treasury Secretary Scott Bessent have reaffirmed the principle that exchange rates should be determined by the markets.
Kato and Bessent met for about 30 minutes on Wednesday on the sidelines of the conference of Group of Seven finance ministers and central bank chiefs in Banff, Canada.
Kato told reporters that he asked Bessent for a review of US tariff measures.
Kato said they avoided discussing exchange rate levels and agreed to continue close and constructive talks.
At the Group of Seven finance leaders' meeting, Kato said the trade imbalance should be addressed not by tariffs but by boosting domestic demand and cutting the budget deficit.
Other countries voiced concerns over how the uncertainty surrounding US tariffs would impact the global economy and financial markets.
The finance leaders aim to issue a joint statement when they wrap up their two-day meeting on Friday.
It remains to be seen to what extent the G7 can show unity on upholding free trade.
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Summary
Japan's Finance Minister Kato Katsunobu and US Treasury Secretary Scott Bessent confirmed the principle of market-determined exchange rates during their meeting. The discussion focused on tariff measures, with Kato requesting a review from Bessent. The leaders agreed to continue constructive talks
Reading History
| Date | Name | Words | Time | WPM |
|---|---|---|---|---|
| 2025/05/23 07:37 | Anonymous | 340 | - | - |
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ID: b2c9f607-c521-4a71-b485-f2524f03c0e8
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20250522_08/
Date: May 22, 2025
Created: 2025/05/23 07:13
Updated: 2025/12/08 03:58
Last Read: 2025/05/23 07:37