Japan's Appeal to the US Over Tariffs

Japan's top currency diplomat, Masato Kanda Mimura, has voiced concerns over the recent volatility in financial markets, sparked by the United States' decision to impose global tariffs on April 2. Japanese goods were notably hit with a 24% tariff.

Seeking Exemption and Stability

In a press conference, Mimura emphasized Japan's strong urge for the US to exempt it from these tariffs. He highlighted the critical need for stable currency movements that reflect economic fundamentals. Mimura also mentioned ongoing discussions with the US Treasury, stressing the importance of bilateral cooperation in these uncertain times.

Trade Negotiations on the Horizon

This development comes as Japanese Prime Minister Shigeru Ishiba agreed to initiate trade negotiations with Washington, signaling a potential pathway to resolve the current trade tensions.