Japan says Trump raised concern over weak yen at summit with PM Takaichi

Japan’s finance minister said US President Donald Trump raised concern about the weak yen during a summit with Prime Minister Sanae Takaichi on the sidelines of the UN General Assembly in New York on Tuesday, Reuters reported on 25 September.

What Tokyo said

Finance Minister Satsuki Katayama relayed that Trump voiced the concern. Takaichi confirmed that the US side said a weak yen creates trade difficulties. She also said an undervalued yen is problematic. According to Japanese officials, there was no discussion of monetary or fiscal policy, and Tokyo’s stance was unchanged.

Katayama–Bessent follow-up

Katayama spoke by phone on Friday with US Treasury Secretary Scott Bessent. Both sides reaffirmed concern about yen undervaluation and said they would strengthen foreign-exchange cooperation. Bessent posted on X about the desirability of a strong yen that reflects Japan’s fundamentals.

Market reaction and bonds

The yen strengthened after the remarks, moving from about 158.60 to about 157.20 per dollar. Japan’s 10-year JGB yield hit a 30-year high of 3.115% on Friday. Economic revitalisation minister Minoru Kiuchi said the Abenomics-style reflation phase is over.

Policy context

Japan and the United States jointly intervened in foreign-exchange markets on 31 July. Japanese authorities also conducted rate checks on Friday, Reuters noted.