Newsfrom Japan
Washington, March 3 (Jiji Press)–U.S. President Donald Trump alleged Monday that Japan and China are guiding their currencies lower.
“The way you solve it very easily is with tariffs,” he told a news conference at the White House, hinting at fresh tariffs on imports from Japan.
“I’ve called (Chinese) President Xi (Jinping), I’ve called the leaders of Japan to say: ‘You can’t continue to reduce and break down your currency. You can’t do it, because it’s unfair to us,'” Trump said. “It doesn’t have to be tariffs. But tariffs are easy, they’re fast, they’re efficient, and they bring fairness.”
If Japan and China try to weaken their currencies and put the United States at a very unfair disadvantage, “all I have to do is say, ‘Howard, we’re going to have to raise the tariffs a little bit,'” said Trump, referring to Commerce Secretary Howard Lutnick.
The remarks by Trump prompted yen purchases against the dollar in New York and then in Tokyo, where the greenback stood at 148.91-93 yen at 11 a.m. Tuesday local time, down from 150.18-18 yen at 5 p.m. the previous day.
[Copyright The Jiji Press, Ltd.]
