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LIMA (Reuters) -U.S. President Joe Biden met with Japanese and South Korean leaders on Friday as they sought to cement their diplomatic progress ahead of a new Trump administration that many fear ...
This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Wednesday, December 21, 2022
The largest European suppliers to Japan were West Germany (US$11.5 billion), France (US$7.6 billion), and Britain (US$5.2 billion). Traditionally, West European countries had trade deficits with Japan, and this continued to be the case in 1988, despite the surge in Japan's imports from them after 1985.
The era of chronic trade deficit ended in 1965, and by 1969, with a positive balance of almost US$1 billion, Japan was widely regarded as a surplus trading nation. In 1971 the surplus reached US$4.3 billion, and its rapid increase was a main factor behind the United States decision to devalue the dollar and pressure Japan to revalue the yen ...
U.S. President Joe Biden and Japanese Prime Minister Fumio Kishida in Akasaka Palace in May 2022. International relations between Japan and the United States began in the late 18th and early 19th century with the diplomatic but force-backed missions of U.S. ship captains James Glynn and Matthew C. Perry to the Tokugawa shogunate.
Image source: Getty Images. A small-sounding rate hike had a big effect on exchange rates. The yen reacted almost immediately to the rate hike, rising to about 150 to the U.S. dollar from about ...
Japan–United States relations continued to evolve throughout the Cold War and into the 21st century, with periods of cooperation and occasional trade disputes. The two nations maintain strong economic ties, and Japan is a crucial ally of the United States in Asia.
The United States is a major market for Japanese exports and a major source of Japanese imports, and is committed to defending the country, with military bases in Japan. [129] In 2016, Japan announced the Free and Open Indo-Pacific vision, which frames its regional policies.