Japan and U.S. hold 'frank and good' trade talks: economy minister

Japan’s economy minister said he had “frank and good” trade talks with his U.S. counterpart on Monday, but stressed that currency rates should be discussed in a different context, between finance ministers. The meeting comes after U.S. President Donald Trump and Prime Minister Shinzo Abe agreed last September to start trade talks in an arrangement that protects Japanese automakers from further tariffs while talks are underway. Trump has made clear he is unhappy with Japan’s $68 billion trade surplus with the United States - much of it from auto exports - and wants a two-way agreement to address it. Economy Minister Toshimitsu Motegi told reporters that most of the three-hour meeting with U.S. Trade Representative Robert Lighthizer was centered on goods.