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Finance Minister Aso to negotiate currency clause with U.S. based on Japan’s national interest

NHK reported online today that Finance Minister Aso said at a news conference after a cabinet meeting this morning that U.S. Secretary of the Treasury Mnuchin is likely to demand the inclusion of a currency clause in the bilateral trade agreement currently being negotiated if they meet in Washington next week, so this will be a topic of discussion. Aso was quoted as saying he and Mnuchin share a common understanding that “there is no correlation between exchange rate fluctuations and the trade balance.” He also reportedly said that during the negotiations he will seek understanding for Japan’s position, which is based on its national interest.

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