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(Excerpt)
(Tuesday, April 8, 2025, 9:12 am to 9:18 am)
[Opening remarks:]
- Minister)
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Today, the government held a meeting of the Comprehensive Response Headquarters for U.S. Tariff Measures, and Prime Minister Ishiba gave instructions to thoroughly examine the content of the U.S. tariff measures and fully analyze their impact on Japan, to take diplomatic measures such as strongly urging the U.S. to review its measures, and to ensure that all necessary support is provided, including financial support.
In response to the Prime Minister’s instructions, the government decided to establish the Ministry of Finance (MOF) Comprehensive Response Headquarters for U.S. Tariff Measures in the ministry, with the Vice-Minister of Finance as the chief of the Headquarters, and the Financial Services Agency (FSA) Comprehensive Response Headquarters for U.S. Tariff Measures in the agency, with the Commissioner of the Financial Services Agency as the chief of the Headquarters.
We will examine the necessary measures at the Headquarters of the MOF and the FSA, and in cooperation with the relevant ministries, and ensure that we are fully prepared to respond to the current U.S. tariff measures.
[Questions and answers:]
- Q.
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There has been talk of establishing a Comprehensive Response Headquarters at the MOF and the FSA, respectively, but what exactly will be discussed?
- A.
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First of all, we will each carry out an analysis of the measures taken this time and do that thoroughly.
The Ministry of Finance has government-affiliated organizations, etc., so we will collect requests from those organizations and ensure that we have the necessary support measures in place. Also, at the Financial Services Agency, I think there are various consultations at each financial institution. We will collect information on such matters and ensure that appropriate measures are taken at each financial institution.
We will give instructions on such matters and ensure that everything is in place. - Q.
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There was a mention of financial support. Currently, regional banks are already working on individual financing support for local small and medium-sized businesses, such as setting up special loan frameworks, so I would like to know whether the FSA as a whole is considering the option of moving towards financial support, such as the effectively interest-free and unsecurerd loans during past crises or large-scale financial facilitation measures, and whether you are currently considering them.
- A.
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We are asking that each institution provides thorough financial support and that such support is dealt with within the existing framework, but we are not considering anything specifically beyond that at present. The Prime Minister said that, in general, it is quite possible that various effects will become more apparent from now on, so first of all we would like to make a concerted effort to analyze and understand the information. And we will take the necessary measures as needed, which I think is a matter of course.
