G7財務ざいむ相しょう・中央ちゅうおう銀行ぎんこう総裁そうさい会議かいぎ開幕かいまく 関税かんぜい影響えいきょうなど議論ぎろんか

The G7, the meeting of finance ministers and central bank governors from the seven major countries, began in Canada in the early hours of the 22nd Japan time.

It appears that opinions are being exchanged regarding the impact of U.S. tariff measures on the global economy.

The G7 meeting is being held in Banff, Canada, for two days starting on the 22nd Japan time, with Finance Minister Kato and Bank of Japan Governor Ueda in attendance.

The main themes on the first day are the current state of the world economy and its risks.

At a press conference before his departure, Minister Kato stated, I would like to frankly exchange views with each country, including on the U.S. tariff measures, and convey Japans position. At the meeting, it is expected that there will be active discussions on the impact of the Trump administrations tariff measures on the global economy, as well as on the positions and responses of each country.

In addition, support for Ukraine and the issue of China’s overproduction are also on the agenda.

Canada, as the chair country, is aiming to compile a joint statement, but the process is expected to be challenging. The focus will be on how much the G7, which has promoted free trade, can present a unified message.

According to government officials, Minister Kato also held a separate meeting with U.S. Treasury Secretary Bessent during breaks in the meeting on the 22nd.

Another government official said before the meeting in an interview, Just like last months meeting, they probably wont make any demands in the currency sector that would disrupt the market, but the outcome is also attracting attention.

The discussion on the first day is scheduled to end soon.

Bessent, the U.S. Treasury Secretary, and Finance Minister Kato held talks; they did not discuss exchange rates. On the 21st, in conjunction with the G7 Finance Ministers and Central Bank Governors Meeting being held in Banff, Canada, U.S. Treasury Secretary Bessent met with Finance Minister Kato.

According to the announcement by the U.S. Department of the Treasury, Secretary Bessent and Minister Kato discussed matters such as global security and Japan-U.S. negotiations regarding tariff measures.

Furthermore, regarding the exchange rate, it should be determined by the market, and it was reaffirmed that there is a shared view that the current dollar-yen rate reflects the economic fundamentals.

It also states that, as with their meeting last month, they did not discuss exchange rate levels.