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Mnuchin says U.S. will seek currency provision in trade deal with Japan, others

Reuters  |  NUSA DUA, Indonesia 

By and Kihara

NUSA DUA, (Reuters) - said on Saturday would like to include a provision to deter currency manipulation in future trade deals, including with

The remark drew concern in Japan, where ran front-page stories in a sign of attention on whether could criticise as currency manipulation any future attempts by to keep sharp yen rises in check.

Mnuchin told reporters the would like to incorporate, in future trade agreements, a provision it applied to the renegotiation of NAFTA that deters members from currency manipulation.

"Our objective would be that the currency issues ... We'd like to include (them) in future trade agreements. With everybody. I'm not singling out on that," Mnuchin said on Saturday, when asked whether the will discuss currencies in trade negotiations with

"We haven't had specific conversations on that. We obviously continually have conversations with my counterparts about currency. But that is the model we'd like to incorporate going forward," he said on the sidelines of the annual and meetings in

Japan's Toshimitsu Motegi, who oversees trade talks with the United States, said on Sunday he had so far made no discussions on currencies with his counterpart, U.S. Trade

"If discussions on this subject become necessary, they will be made by the of both countries," Motegi said in a television programme, in response to Mnuchin's remark.

Mnuchin has also taken a swipe at for recent declines in the yuan, a sign could make currency a central part of future trade negotiations.

U.S. and Japanese agreed in September to start trade talks in an arrangement that, for now, protects Japanese automakers from further tariffs.

Along with fears of being slapped with higher tariffs on auto exports, Japan worries about having its hands tied on addressing sharp yen rises that hurt its export-reliant economy.

Trump in the past has criticised the of Japan's ultra-easy monetary policy, saying it was aimed at weakening the yen, a claim the central dismisses.

(Additional reporting by in Tokyo; Editing by Muralikumar Anantharaman)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, October 14 2018. 08:52 IST
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