US President Donald Trump said that the US participated in foreign exchange market intervention last week to push up the yen exchange rate, saying it reflected the friendship between the US and Japan, and said he expected Washington to reap economic benefits from helping allies. Trump told reporters on Air Force One on Sunday, “They need some help, and we have always supported Japan.” He mentioned the “good relationship” between the two countries. He added, “Japan has always been nice to us — except for the Pearl Harbor incident, of course.” “It's first and foremost a symbol of friendship,” he said. When asked what the US gained from the intervention, Trump said the intervention brought “economic benefits.” He compared this arrangement to the currency swap agreement reached with Argentina last year. Although the agreement drew criticism from both parties, Argentina repaid the amount used in the US swap arrangement in January, and Trump claimed that the US ultimately benefited 25 billion US dollars from the currency swap agreement.

US President Donald Trump said that the US participated in foreign exchange market intervention last week to push up the yen exchange rate, saying it reflected the friendship between the US and Japan, and said he expected Washington to reap economic benefits from helping allies. Trump told reporters on Air Force One on Sunday, “They need some help, and we have always supported Japan.” He mentioned the “good relationship” between the two countries. He added, “Japan has always been nice to us — except for the Pearl Harbor incident, of course.” “It's first and foremost a symbol of friendship,” he said. When asked what the US gained from the intervention, Trump said the intervention brought “economic benefits.” He compared this arrangement to the currency swap agreement reached with Argentina last year. Although the agreement drew criticism from both parties, Argentina repaid the amount used in the US swap arrangement in January, and Trump claimed that the US ultimately benefited 25 billion US dollars from the currency swap agreement.