On the 23rd, former President Trump, who secured the Republican nomination for the US presidential election in November, called the dollar’s 34-year high against the yen a “disaster” for the US manufacturing industry. Truth Social, the social media site he founded criticized in the post.
Trump pointed out that the weakening yen and strengthening of the dollar will cause U.S. companies to lose business and be forced to build factories overseas. He commented that these exchange rates were proof that President Biden was “leaving things alone” and that countries such as Japan and China would “now tear the United States apart.”
Liberal Democratic Party Vice President Taro Aso
Photographer: Takaaki Iwabu/Bloomberg
Meanwhile, Mr. Trump met with Liberal Democratic Party Vice President Taro Aso on the night of the 23rd at Trump Tower in New York. In the post, he said he was “very honored.” Mr. Aso’s visit is the clearest sign that Japan is preparing for Mr. Trump’s possible return to the White House.
It is currently unclear whether Trump and Aso discussed exchange rates during their meeting. Ahead of the meeting, Trump told reporters in the lobby of Trump Tower that he would “discuss Japan and the United States and many other issues as well.”
At a press conference on the morning of the 24th, Chief Cabinet Secretary Yoshimasa Hayashi declined to comment on Aso’s visit to the United States, stating that he was acting in his “position as a lawmaker with no government involvement.” He also said that there are currently no plans for Foreign Minister Yoko Kamikawa or other Japanese government officials to meet with Trump.
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Original title: Trump Meets Former Japan Premier Aso Amid Weak Yen Concern, Trump Calls USD-Yen Rate ‘Disaster’ While Welcoming Ex-Japan PM (excerpt)
(Updates the final paragraph with Chief Cabinet Secretary Hayashi’s remarks)
Tags: Trump criticizes current administrations neglect Disaster yen weakens time years dollar strengthens Bloomberg
