Japan Stresses Weak Yen-Exports Link Ahead of U.S. Trade Talks



Yuko Takeo and Emi Urabe | Bloomberg

The U.S. says it wants a currency clause in any trade agreement with Japan. As the two sides prepare to sit down, Japanese officials say there is no need to talk about currencies.

Masatsugu Asakawa, the nation’s currency chief, has indicated opposition to a currency clause, saying recently that the link between the yen’s exchange rate and Japanese exports has been “severed.”

With President Donald Trump often focused on exchange rates, the U.S. got a currency clause in its revamped trade deal with Canada and Mexico and is said to be seeking one from China now. From the U.S. point of view, Japan is next.

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