Japanese Industry Minister said on Monday that “Japan and the US have agreed to start discussions to solve the issue over US "section 232" tariffs on steel and aluminium imports.”

“Japan and US agree to form Japan-US commercial and industrial partnership to reinforce industry competitiveness and supply chains,” he added.

A ministry official said: “Japan’s Trade Minister and US Commerce Secretary did not discuss any concrete measures to resolve the issue like that of EU-US agreement.”

Further, the official said that “Japan asked the US again for complete resolution of the issue of additional tariffs in a way that is consistent with WTO rules.”

USD/JPY unfazed

USD/JPY trades little changed at 113.83, as of writing, divided between downbeat Japanese growth numbers and broad US dollar weakness alongside the Treasury yields.