Japanese media reported that as the yen neared a 39-year low, Finance Minister Katayama held an emergency online meeting with US Treasury officials on the evening of the 22nd local time. Sources said she may have exchanged views with US Treasury Secretary Bessent on FX market trends and the possibility of intervention after USD/JPY plunged intraday, prompting speculation of Japanese intervention.

The second-review draft amendment to China’s Trademark Law will be submitted to the 23rd session of the 14th NPC Standing Committee, the Legislative Affairs Commission said. Spokesperson Huang Haihua said on the 22nd the revision targets deceptive trademarks with three measures: tighten registration review; broaden complaint and reporting channels; and increase legal liability. Where a registered trademark is used in a way that misleads the public, trademark enforcement authorities may order rectification within a deadline. If illegal business turnover exceeds 50,000 yuan, fines may be imposed of up to five times that turnover; if there is no illegal turnover or turnover is under 50,000 yuan, fines may reach up to 250,000 yuan. Failure to rectify on time can lead the State Council’s trademark administration to cancel the registration.

Prime Minister Netanyahu said Israel has changed its limits on military action against Iran. He said Israelis were long told they could not strike Iranian territory and were limited to Mossad operations — which he has approved many times — but those restrictions have been lifted, and Israel has sent pilots to fly over Iranian airspace.