The Japanese Finance Minister stated at the G20 meeting: Tariffs are not the correct tool for addressing trade imbalances.

According to Japan's Finance Minister Taro Aso, Japan has told the G20 that tariffs are not the correct way to address trade imbalances, and countries facing this situation need to address it through domestic efforts. Aso told reporters on Thursday, "Japan has stated that tariffs are not the correct tool to address excessive imbalances in the current account." US Treasury Secretary Steven Mnuchin did not attend the meeting. Aso made the remarks after the first day of the G20 finance ministers and central bank governors meeting near the coastal city of Durban in South Africa. He was a key speaker at several meetings, including a highly anticipated global economic meeting. Aso emphasized the importance of an open and free multilateral trading system and predictable economic management at the meeting, but he said there was no specific discussion about cooperating against the United States. He also reminded countries to continue monitoring excessive fluctuations in foreign exchange markets driven by speculation and other factors.