Japan, Ishiba
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A mutually beneficial U.S.-Japan tariff agreement is still possible, Treasury Secretary Scott Bessent said on Friday after meeting Japanese Prime Minister Shigeru Ishiba in Tokyo. "A good deal is more important than a rushed deal,
The Japanese yen strengthened on Monday as investors reacted to political uncertainty following Japans ruling coalition losing its majority in the upper house. With financial markets in Japan closed for the day,
MSCI's broadest index of Asia-Pacific shares outside Japan was flat, while South Korean stocks added 0.4%. S&P 500 futures and Nasdaq futures both edged up 0.1%, and are already at record highs in anticipation of more solid earnings reports.
Japan told Group of 20 countries that tariffs aren’t the right way to fix imbalances, and that countries facing such situations need to address them through domestic efforts, according to Finance Minister Katsunobu Kato.
Japanese Prime Minister Shigeru Ishiba met with US Treasury Secretary Scott Bessent in Tokyo on Friday ahead of the scheduled imposition of 25% duty on Japan.
Unlike the European Union, the Japanese government has made no indication it plans to impose any kind of reciprocal tariff on the U.S.
Exports fell for a second straight month in June, fueling fears that U.S. tariffs will halt Japan’s economic recovery and complicate the central bank’s policy plans.