Kato retracts previous statement in just three days
Japanese Finance Minister Shunichi Kato stated, "We do not consider selling U.S. Treasury bonds as a tool for U.S.-Japan (tariff) negotiations."
According to Kyodo News and other sources on May 4 (local time), Finance Minister Kato, who is visiting Italy to attend the ASEAN+3 Finance Ministers and Central Bank Governors' Meeting, made this comment during a press conference.
This marks a change from his previous remarks. On May 2, during a television program, he had said, "It is true that Japan holds U.S. Treasury bonds," and added, "It is only natural to put all possible negotiating cards on the table for discussion."
Meanwhile, at the ASEAN+3 Finance Ministers and Central Bank Governors' Meeting held that day, participants reaffirmed the importance of the multilateral free trade system amid the current trend of protectionism, including U.S. tariff policies. The attendees issued a joint statement saying that "the rise of protectionism leads to economic fragmentation, which affects trade and investment within the Asian region."
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