US Treasury Secretary Scott Bessent will visit Japan for three days starting
Monday, meeting Prime Minister Sanae Takaichi, Finance Minister Satsuki Katayama
and Bank of Japan Governor Kazuo Ueda, before traveling to China, according to
local media. Discussions are expected to cover foreign exchange markets,
including recent yen volatility, rare earth supply chains and the Iran war.
Reports said Japan likely spent about $34.5 billion last week in its first
currency intervention since July 2024 to support the yen. The trip comes ahead
of a May 14–15 US-China summit in Beijing involving Bessent, US President Donald
Trump and Chinese President Xi Jinping.
