WASHINGTON – Japan’s Finance Minister, Katsunobu Kato, has urged G20 member states to work together in maintaining stability across global markets.

Speaking at a joint meeting of G7 and G20 finance leaders in Washington on Wednesday (23/4), Kato warned that the United States’ tariff policies and retaliatory actions from other nations have triggered market instability and hindered global economic growth.

He noted that geopolitical conflicts, including Russia’s invasion of Ukraine, and aggressive trade measures have affected various economic indicators across countries.

“Geopolitical tensions, as well as tariff actions by the US and retaliatory steps by other countries, have heightened uncertainty, disrupted market stability—including currency exchange rates—and dampened growth,” Kato said.

He stressed the importance of the G20’s role in closely monitoring global developments, sharing information, and responding swiftly to protect economic and market stability worldwide.

Kato also revealed plans to hold a bilateral meeting with US Treasury Secretary Scott Bessent on Thursday (24/4), though he did not disclose specific agenda items.

In a separate G7 session, Japan raised concerns about industrial overcapacity in China. Kato urged advanced economies to collectively pressure China to address the imbalance. (EF/KR/ZH)