On live TV, Japan’s Finance Minister Katsunobu Kato talked about the country’s huge investment in U.S. Treasury bonds — $1.13 trillion worth. When asked if Japan might use that money as a bargaining chip in trade talks with the U.S., Kato said clearly, “It does exist as a card.”This was a big deal. Japan usually avoids even suggesting it might sell off U.S. debt. But now, with pressure from the U.S. over trade, Japan is showing it’s ready to play tough.Earlier this year, the U.S. government, under President Trump, talked about new tariffs (extra taxes on imports) on countries like Japan. That caused concern in the financial markets. Japan didn’t react right away, but now it’s clearly warning the U.S. not to go too far.
The warning came after Japan’s top trade negotiator, Ryosei Akazawa, had tense meetings in Washington with U.S. officials. The two sides disagreed on things like cars, energy, and farm products. The U.S. wants Japan to buy more American goods, but Japan isn’t giving in easily.Japan may agree to some deals, but it’s not going to be bullied. Kato’s comment showed just how serious Japan is now. Analysts say just talking about using the U.S. debt as a weapon is enough to make Wall Street nervous.This could also influence other countries. China also owns a large amount of U.S. debt. If it joins Japan in making similar threats, it could cause big problems for the U.S. bond market.
Japan’s Prime Minister has already said the trade war is a national crisis. And Kato, usually a careful speaker, made it clear: Japan won’t stay quiet anymore.Talks between the U.S. and Japan will continue in May, and a deal might be reached by June. But Japan has sent a strong message:Treat us fairly, or we hit back where it hurts — your economy.
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