Readout from Secretary of the Treasury Scott Bessent's Meeting with Finance Minister Katsunobu Kato of Japan

BANFF – Today, Secretary of the Treasury Scott K.H. Bessent met with Finance Minister Katsunobu Kato of Japan on the margins of the G7 Finance Ministers and Central Bank Governors meetings in Banff, Canada.Secretary Bessent and Minister Kato discussed important issues pertaining to the U.S.-Japan economic relationship, including global security and the ongoing bilateral trade discussions between the United States and Japan.Secretary Bessent and Minister Kato also continued the longstanding dialogue between the U.S. Treasury and the Ministry of Finance on currency issues. They reaffirmed their shared belief that exchange rates should be market determined and that, at present, the dollar-yen exchange rate reflects fundamentals.