Takaichi Speaks on Japan-U.S. Summit and Related Matters
Overview
Prime Minister Takaichi explained that financial and fiscal policy were not discussed at the Japan-U.S. summit. In response to remarks about the strain a weaker yen places on U.S. trade, she stated as a general principle that the yen's undervaluation is a problem. She said the policy of pursuing both a strong economy and fiscal sustainability under responsible proactive fiscal policy remains unchanged. She declined to comment on the specific content of the U.S.-China summit, said Japan had conveyed its support for the ICC, and expressed her intention to continue communication with the United States and other relevant countries.
Key points
- Explained remarks on the weaker yen and the Japanese government's fiscal management policy.
- Did not address specific exchanges at the U.S.-China summit.
- Conveyed support for the ICC and plans to continue communication with relevant countries.
Overview
At a press conference following the Japan-U.S. summit, reporters asked about concerns over the weaker yen, how it would be reflected in Japan's fiscal and monetary policies, and her views on the U.S.-China summit.
Another question concerned the exchanges about the ICC at the Japan-U.S. summit and progress toward improving the situation.
Details
According to Prime Minister Takaichi, monetary and fiscal policy were not discussed at the Japan-U.S. summit. The U.S. side said that the weaker yen was making trade difficult for the United States, and the Prime Minister responded that, as a general principle, the yen's undervaluation is a problem. She said there would be no change in the policy of continuing to pursue both a strong economy and fiscal sustainability under "responsible proactive fiscal policy."
The Prime Minister refrained from commenting on the specific content of the U.S.-China summit, describing it as an exchange between third countries. She also expressed the view that Japan and the United States, which reconciled after the war and deepened their relationship, are allies bound by strong ties and able to trust each other.
Although the U.S. side did not raise the ICC, the Prime Minister said she had conveyed that Japan has consistently supported it, and that they exchanged views frankly. She did not disclose details, explaining that she had communicated Japan's position. She said the situation was difficult, with U.S. distrust very strong and its stance strict. At the summit, it was agreed that Secretary of State Rubio and Foreign Minister Motegi would communicate going forward, and Japan would continue communication with relevant countries as well.