Japan says it is not planning to threaten the sale of treasures in US trade conversations

Of Makiko Yamazaki

(Reuters) – Japan is not planning to threaten to sell its operations of more than $ 1 billion from North -American treasures in commercial conversations with Washington, said its finance minister on Sunday, clarifying the previous statements that bond farms could be used as a negotiation chip.

“My comments were asked in response to a question if Japan could, as a negotiation tool in trade negotiations, explicitly reassuring Washington who would not easily sell his treasure shares,” said Japanese Finance Minister Katsunobu Kato.

“Comments did not intend to suggest to sell the treasure farms,” ​​Kato said at a press conference in Milan.

In a television interview on Friday, Kato said that the United States Treasury of Japan could be used as a card in commercial negotiations, explicitly increasing his leverage as a massive creditor in the United States.

Kato in the interview added if Japan really uses this card is a different question.

At the Sunday press conference, Kato repeated that the main purpose of the United States Treasury farms in Japan, the largest in the world, is to ensure that he has sufficient liquidity to perform Yen’s intervention when needed.

“This has been our stance and we do not plan to use the sale of U.S. Treasury farms as a negotiation tool in negotiations,” he said.

(Report by Makiko Yamazaki; Edition of Giles Elgood)