Photo/Illutration Finance Minister Katsunobu Kato, center, speaks to reporters on April 24 in Washington after meeting with U.S. Treasury Secretary Scott Bessent. (Ken Sakakibara)

WASHINGTON--Finance Minister Katsunobu Kato confirmed that U.S. Treasury Secretary Scott Bessent did not request any measures to weaken the dollar during their trade talks here on April 24.

“There was no mention from the U.S. side regarding currency targets or any framework to manage them,” Kato said after their first face-to-face meeting, which lasted about 50 minutes.

Kato said that the two officials reaffirmed key principles previously agreed upon by the Group of Seven developed nations.

These include the view that currency exchange rates should be determined by the market and that excessive volatility can negatively impact economic and financial stability.

During the meeting, Kato also expressed strong concerns over the tariffs imposed on Japan by President Donald Trump, which have recently strained bilateral trade relations.

“I told them that the tariffs are extremely regrettable and urged a reconsideration,” he said.

Despite Trump’s preference for a weaker dollar to boost exports, Bessent did not pressure Japan on currency issues.

Bessent has also voiced concerns over efforts by other nations to weaken their currencies, prompting speculation that the United States might push Japan to revise its currency policies.

Both sides agreed to continue “close and constructive discussions” on currency matters.

Further talks on the tariffs are expected next week, when Ryosei Akazawa, Japan's minister for economic revitalization, is scheduled to make a second trip to the United States on April 30 to continue negotiations with the Trump administration.

(This article was written by Kanako Tanaka and Ken Sakakibara.)

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