Cooperation Urged as Global Markets Face Financial Turbulence

Japanese Finance Minister Katsunobu Kato called on G20 nations for cooperation to stabilize global markets amidst U.S. tariffs and geopolitical tensions. Highlighting concerns over currency rate volatility and economic growth, Kato pushed for coordinated efforts while also addressing China's production capacity issues with G7 counterparts in Washington.

Japanese Finance Minister Katsunobu Kato has urged G20 member nations to cooperate in efforts to stabilize global financial markets. Speaking on Wednesday, Kato warned that U.S. tariffs and countermeasures taken by various countries were adversely affecting global growth and market stability.

At a news conference following G7 and G20 finance meetings in Washington, Kato highlighted geopolitical tensions such as Russia's invasion of Ukraine and emphasized the need for vigilant monitoring and information exchange among G20 members to maintain economic stability.

Additionally, Kato engaged in discussions with G7 counterparts regarding China's excess production capacity, stressing the importance of addressing domestic imbalances to foster balanced global economic growth.

(With inputs from agencies.)