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Japan has no plans to threaten to sell its US$1 trillion-plus holdings of US Treasuries in trade talks with Washington, its finance minister said on Sunday, clarifying earlier remarks that the bond holdings could be used as a bargaining chip.
“My comments were made in response to a question whether Japan could, as a bargaining tool in trade negotiations, explicitly reassure Washington it wouldn’t sell its Treasury holdings easily,” Japanese Finance Minister Katsunobu Kato said.
“The comments weren’t meant to suggest selling Treasury holdings,” Kato told a press conference in Milan.
At the press conference on Sunday, Kato repeated that the primary purpose of Japan’s US Treasury holdings – the largest in the world – is to ensure it has sufficient liquidity to conduct yen intervention when necessary.
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