The first rule of diplomacy is you never directly say what you mean, and you never, ever say what you want to say.
Japan’s finance minister, Katsunobu Kato, forgot the first rule and it can cost Japan dearly.
Addressing a question on a Tokyo TV program on Friday, Japan FinMin Kato said the country’s $1.1 trillion in Treasury holdings – the highest of any foreign creditor – could be a “negotiation card” in its trade talks with Washington but “whether or not we use that card is a different decision.” In other words, Japan is threatening to sell some/all of its $1.1 trillion in bonds if tariffs are imposed.
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