Itsunori Onodera, chair of the Liberal Democratic Party said on Sunday that Japan must strengthen the yen, such as by helping boost the country’s industrial competitiveness, as the currency’s weakness has pushed up households’ living costs
The ruling party chief also added that, Japan should not intentionally sell its U.S. Treasury holdings in retaliation against tariffs levied by President Donald Trump.
“As a U.S. ally, the government shouldn’t think about intentionally using U.S. Treasury holdings,” Onodera said in a programme on public broadcaster NHK, rejecting an opposition lawmaker’s suggestion that Tokyo use its huge holdings of U.S. government debt as a negotiating tool in bilateral trade talks.