Press Conference by the Chief Cabinet Secretary (Excerpt)

Q&As

REPORTER: I have a question concerning the United States presidential election. At the current point it seems like that the Republican Party candidate, Mr. Donald Trump, is in a strong position. Although the results are still coming in, can I ask for your views on this result?

CHIEF CABINET SECRETARY SUGA: Firstly, the United States presidential election is one that has a major global impact and we are still at the stage where we are watching the results. As votes are still being counted I would like to refrain from making any comment. The Government would like to continue to watch the results until a final election outcome is confirmed. In any event, no matter who becomes the next U.S. President, what will remain entirely unchanged is that the Japan-U.S. Alliance will continue to constitute the cornerstone of Japan’s foreign policy, and Japan will continue to work closely with the United States for the peace and prosperity of the Asia-Pacific and the world.

REPORTER: I have a related question. This is a point that came up also in this morning’s press conference, but until now Mr. Trump has made statements opposing the Trans-Pacific Partnership (TPP) Agreement. Is there no change to the Government of Japan’s policy of proceeding toward ratification of the TPP according to plan? If it is the case that the United States does not participate in the TPP what would be the merits for Japan in participating in it?

CHIEF CABINET SECRETARY SUGA: Firstly, at the TPP leaders’ meeting last November, the leaders of 12 countries, including the United States, agreed to aim for the agreement’s early entry into force. It is the Government’s understanding that incumbent President Obama is taking steps to have the TPP agreement passed by Congress by the end of the year.

(Abridged)

REPORTER: I have a further question relating to the presidential election. The election results are having a major impact on share prices, with the Nikkei Stock Average plunging momentarily by more than 1,000 yen today. The yen is also appreciating on currency markets, so can I ask what the Government’s response will be?

CHIEF CABINET SECRETARY SUGA: Firstly, movements in share prices have been extremely volatile today, with the Nikkei Stock Average falling by more than 1,000 yen at one point. In any event, the Government will continue to monitor the situation with a due sense of caution. At the same time the Government is deeply concerned about the currency markets, where sudden and one-sided speculative moves have been observed. In line with the agreements reached at the G7 and G20 meetings, we recognize that excessive volatility and disorderly movements in exchange rates can have adverse implications for economic and financial stability. If such movements continue the Government will take the necessary measures in response.
 
(Abridged)

REPORTER: I have a related question. Given the closeness of the presidential election result, can I ask what preparations the Government has made in the event of a Trump administration?

CHIEF CABINET SECRETARY SUGA: As I have already stated, no matter who becomes the next U.S. President the Japan-U.S. Alliance will continue to constitute the cornerstone of Japan’s foreign policy and we will engage with the new administration on that basis.

REPORTER: I have a further related question. Prime Minister Abe has recently issued instructions to Mr. Katsuyuki Kawai, Special Advisor to the Prime Minister, to travel to the United States and engage in talks with the winning camp. Can I ask about the aim in issuing this instruction at a point when the final result has yet to be confirmed?

CHIEF CABINET SECRETARY SUGA: I would have thought that it would be the expected thing for the Government to respond in this way, because whoever becomes President it will be the first time for the Government to engage with that person.