WASHINGTON — President Donald Trump confirmed Sunday the United States Treasury bought billions of Japanese yen, marking the first U.S. intervention to strengthen Japan's currency in 30 years.
Treasury Secretary Scott Bessent's internal notes indicated a target of $5 billion to $10 billion for the yen purchases. Trump did not specify the exact amount but confirmed the purchase of "billions of dollars' worth" of the currency.
Trump called the intervention a "signal of friendship" toward Japan and said the United States also received "financial benefit" from the transaction.
Explaining the decision, Trump said, "Japan's been very good to us, with the exception, of course, of Pearl Harbor."
The intervention came after coordination with Japan. Tokyo had sought assistance to counter its currency's sustained weakening. A stronger yen helps Japan manage import costs and inflation.
Trump said the action was "good for the world economy." Japan is the world's third-largest economy, and yen instability can ripple across global markets.
Such interventions are rare, typically reserved for moments of acute financial instability or significant diplomatic alignment. The last time the United States directly intervened in currency markets to strengthen a foreign currency was 30 years ago.
Japan's government and economy are the primary beneficiaries, gaining a more stable currency that supports its trade balance. A stronger yen makes Japanese imports chea benefiting consumers and businesses reliant on foreign goods. The United States gains a stronger economic partner and a reinforced diplomatic position in Asia.
Trump's direct, public acknowledgment of the intervention signals a more assertive White House role in international finance—contrasting with the conventional practice of measured Treasury Department statements on currency matters.
