Press Releases

READOUT: Secretary of the Treasury Janet L. Yellen’s Meeting with Japanese Business Leaders on Bolstering Supply Chain Resiliency and Expanding Friend-Shoring

TOKYO — Today, Secretary of the Treasury Janet L. Yellen and U.S. Ambassador to Japan Rahm Emanuel participated in a roundtable discussion at the U.S. Embassy in Tokyo with leaders of Japanese businesses to discuss how bolstering supply chain resiliency and expanding friend-shoring with trusted economic partners can help ease inflationary pressures over time and address the bottlenecks that are raising prices for consumers. The participants discussed the state of the American and Japanese economies, as well as efforts to mitigate supply chain challenges rising from the COVID-19 pandemic and Putin’s unprovoked and unjustified war in Ukraine, particularly its effects on global energy and food prices. Secretary Yellen provided an update on the United States’ rapid economic recovery thanks to President Biden’s American Rescue Plan and strategies to combat global inflation, including a price cap on the cost of Russian oil exports to lower prices for consumers in the United States, Japan, and around the world while limiting revenue for Putin’s war machine.

Participants included U.S. Ambassador to Japan Rahm Emanuel and senior executives from Marubeni, Mitsui, Panasonic, Sony, Sumitomo, and Zen-Noh.