Trump: Japan can no longer allow the yen to depreciate, it's unfair to the United States

U.S. President Trump stated on Monday local time that he told Japanese leaders they cannot continue to devalue their currency, as it is unfair to the United States.

Trump said: "We can't do this because it's not fair to us. It's hard for us to produce tractors here when Japan and other places are lowering their exchange rates."

When asked about Trump's comments, Japan's Finance Minister Taro Aso said Tokyo has not adopted a direct policy aimed at weakening the yen.

Taro Aso stated at a press conference in Tokyo on Tuesday that Japan has confirmed its "basic stance on exchange rate policy" with the Group of Seven and the United States, including in bilateral meetings with U.S. Treasury Secretary Steven Mnuchin.