NEW YORK: President Donald Trump will meet with Japanese Prime Minister Sanae Takaichi on the sidelines of the UN General Assembly meeting in New York next week, their first-face-to-face since the US intervened to help prop up Japan’s yen.
US Ambassador to the UN Mike Waltz shared plans for the two leaders to meet during a call with reporters Friday (Sept 18).
The US and Japan in late July moved to bolster the Japanese yen after the currency dropped to a near four-decade low of 164 per US dollar. It was the first coordinated yen-buying operation from the two countries since 1998.
US Treasury Secretary Scott Bessent earlier this week defended the moves, saying that a stronger yen was better for US exports and meant Tokyo would not have to sell US assets to finance foreign currency intervention.
Takaichi arranged a meeting with Trump next week to align views on China before he meets with Chinese President Xi Jinping, Japanese media reported earlier.
Besides tensions with China, trade and the war in Iran are likely to be on the docket when Trump and Takaichi meet. The US and Japan agreed to a tariff truce last year, including a US$550 billion Japanese investment fund.
Takaichi has also sought to boost her country’s military to help counter China in the region, and Trump has praised Tokyo’s purchases of US defence equipment.
The Iran war, however, has been an irritant in relations, with Trump earlier this year expressing frustration that allies including Japan have not responded to his call for military help to reopen the Strait of Hormuz.
During her meeting with Trump in March, Takaichi highlighted a pledge to purchase more oil from the US as the war in the Middle East squeezed global energy flows. Japan, which relies on imports for nearly all of its oil, is particularly vulnerable to energy price spikes.
Trump and Takaichi enjoy a warm relationship. During the March meeting, Trump referenced the Japanese attack on Pearl Harbour that drew the US into World War II when answering a question about the Iran war.
Takaichi was seen pursing her lips and glancing at her advisers during the exchange. Still, Takaichi repeatedly thanked the president for his commitment to the US-Japan alliance. - Bloomberg
