TOKYO — Planned talks between Japan and the U.S. about the “reciprocal tariffs” that have roiled markets could end up putting pressure on the Bank of Japan to raise interest rates faster than expected, as the Trump administration claims the weak yen contributes to unfair bilateral trade.
The cabinet-level discussions, to be led on the U.S. side by Treasury Secret Scott Bessent, were decided in a call Monday between Prime Minister Shigeru Ishiba and U.S. President Donald Trump after Washington announced an unexpectedly high 24% duty on imports from Japan last week.
