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US oil giants ExxonMobil and Chevron reported lower profits Friday, reflecting the hit from falling crude prices amid global economic uncertainty surrounding President Donald Trump’s tariffs.The results showed the companies remained highly profitable in the first quarter despite about a 20 percent decline in crude prices since Trump’s January return to the White House, a drop also spurred by the moves of Saudi Arabia and other crude exporters to boost output.But the environment marks a change from the surge in profits after Russia’s invasion of Ukraine sent oil prices skyrocketing. Both ExxonMobil and Chevron also cited weak refining margins as a negative factor in the first quarter.ExxonMobil reported profits of $7.7 billion, down 6.2 percent from the year-ago level. Revenues were essentially flat at $83.1 billion.The 2024 purchase of Pioneer Natural Resources for around $60 billion lifted ExxonMobil’s volumes from the Permian Basin, a fast-growing petroleum region in the southwestern United States.ExxonMobil also saw petroleum production growth in Guyana, which helped to compensate for headwinds in the first quarter, including “significantly weaker” refining margins, the company said in a press release.ExxonMobil said it is on track to start up 10 “advantaged projects” across its businesses in 2025.From this group, the company has already started and is ramping production at an “enormous” chemical complex in China that will serve the domestic market and will be “protected from tariff impacts,” according to prepared remarks for the company’s earnings conference call.ExxonMobil has also launched an advanced recycling unit in Baytown, Texas. Chief Executive Darren Woods said ExxonMobil’s progress in weeding out inefficient, high-cost projects means the company can “excel in any environment,” according to the earnings press release.During Friday’s conference call with analysts, Woods confirmed that ExxonMobil plans to continue to repurchase shares at a fast clip after buying back $4.8 billion last quarter.Such repurchases reduce the dividend burden after ExxonMobil’s all-stock purchase of Pioneer.”Our stock price is heavily correlated with crude and crude prices… and so it moves down with crude prices,” Woods said. “In my mind, that’s a great buying opportunity.”- Chevron tempers buybacks -At Chevron, profits dropped 36 percent to $3.5 billion, while revenues dipped 2.3 percent to $47.6 billion.The company pointed to recent production increases in Kazakhstan, the Permian Basin and in the Gulf of Mexico.Chevron plans to temper its share repurchases in the second quarter to between $2.5 billion and $3 billion after spending $3.9 billion in the first quarter.Chief Executive Mike Wirth said the moderation comes off an extremely robust pace of buybacks in 2023 and 2024.”The rate at which we’re buying shares back now is higher than at any point in our history,” Wirth said on a conference call, noting that slowing those purchases makes sense now the crude was moving to the “lower part” of the expected trading range.The oil giant could make other adjustments if the business conditions worsen, executives said.”The trade and tariff situation has been dynamic and we need to see how that manifests itself over time,” said Wirth, who pointed to the shift in oil exporters as another watch item, while adding “We’re very well prepared.” Shares of ExxonMobil dipped 0.1 percent in early-afternoon trading, while Chevron gained 1.3 percent.

Google on Friday faced a demand by the US government to break up its hugely profitable ad technology business after a judge found the tech giant was commanding an illegal monopoly.”We have a defendant who has found ways to defy” the law, US government lawyer Julia Tarver Wood told a federal court in Virginia, as she urged the judge to dismiss Google’s assurance that it would change its behavior.”Leaving a recidivist monopolist” intact is not appropriate to solve the issue, she added.The demand is the second such request by the US government, which is also calling for the divestment of the company’s Chrome browser in a separate case over Google’s world-leading search engine business.The US government specifically alleged that Google controls the market for publishing banner ads on websites, including those of many creators and small news providers.The hearing in a Virginia courtroom was set to plan out the second phase of the trial, set for September 22, in which the parties will argue over how to fix the ad market to satisfy the judge’s ruling.The plaintiffs argued in the first phase of the trial last year that the vast majority of websites use Google ad software products which, combined, leave no way for publishers to escape Google’s advertising technology and pricing.District Court Judge Leonie Brinkema agreed with most of that reasoning, ruling last month that Google built an illegal monopoly over ad software and tools used by publishers, but partially dismissed the argument related to tools used by advertisers.- ‘Not sufficient’ -The US government said it would use the trial to recommend that Google should spin off its ad publisher and exchange operations, as Google could not be trusted to change its ways.”Behavioral remedies are not sufficient because you can’t prevent Google from finding a new way to dominate,” Tarver Wood said.Google countered that it would recommend that it agree to a binding commitment that it would share information with advertisers and publishers on its ad tech platforms.Google lawyer Karen Dunn did acknowledge the “trust issues” raised in the case and said the company would accept monitoring to guarantee any pledges made to satisfy the judge.Google is also arguing that calls for divestment are not appropriate in this case, which Brinkema swiftly refused as an argument.The company also said breaking up Google’s control of the ad platforms would pose a data security risk for publishers and advertisers.The judge urged both sides to mediate, stressing that coming to a compromise solution would be cost-effective and more efficient than running a weeks-long trial.The business in question at the trial is just a portion of Google’s colossal online advertising revenue, which is the driving engine of its fortune and pays for its free-to-use online services such as Maps, Gmail, and search.Money pouring into Google’s coffers also allows the Silicon Valley company to spend billions of dollars on its artificial intelligence efforts.

The creative team behind the popular Grand Theft Auto video game series postponed the launch of the latest installment by several months to May 2026, hitting shares of parent Take-Two Interactive.Grand Theft Auto VI was originally due to be released later this year, with a trailer having shown that it would be set in Miami-like Vice City and would feature a playable female protagonist for the first time.”We are very sorry that this is later than you expected,” publisher Rockstar Games said in a statement.”With every game we have released, the goal has always been to try and exceed your expectations, and Grand Theft Auto VI is no exception,” it said.”We hope you understand that we need this extra time to deliver at the level of quality you expect and deserve.”Its predecessor, GTA V, was released in 2013 and sold more than 200 million copies.Beyond just Rockstar Games, the whole industry is laser focused on the GTA launch at a time when the sector has been experiencing stalled growth after riding high on the covid-related confinements to break sales records.Strauss Zelnick, chief executive of Take-Two, supported the move in a statement released by the parent company.”While we take the movement of our titles seriously and appreciate the vast and deep global anticipation for Grand Theft Auto VI, we remain steadfast in our commitment to excellence,” Zelnick said.The first trailer for GTA VI appeared in December 2023 and has been seen more than 250 million times on Rockstar’s YouTube channel.Analysts mostly agreed that the delay was not a surprise and welcomed that an actual release date was now on the books.”While some investors may view this as a delay from the previously suggested ‘fall 2025’ window, the announcement aligns closely with our expectations and should not come as a surprise,” said analyst Mike Hickey of Benchmark.”Consistent with Rockstar’s track record, this timing reinforces their commitment to product quality over deadline adherence,” he added.Set to the Tom Petty song “Love Is A Long Road,” it opens with a female character named Lucia being released from prison in what appears to be a fictionalized version of Florida.Near the close of the one-minute-and-30-second clip, she tells her male partner in crime: “The only way we are going to get through this is by sticking together, being a team.”The pair go on to burst into a store with pistols drawn and bandanas covering the lower halves of their faces.Fans saw the scene as confirmation that rumors of a “Bonnie and Clyde” type crime couple are coming true.Along with its wild success, the GTA series has faced criticism over its violent content.Critics have from the beginning accused Grand Theft Auto of glorifying violence and encouraging players to engage in criminal behavior –- allegations rejected by New York-based Take-Two Interactive.GTA players sell drugs, fight, rob, go on car rampages and more. Gameplay options also included assaulting sex workers and going to strip clubs, raising the ire of activists.Near 1630 GMT, Take-Two shares were down 6.0 percent.”The stock shouldn’t be down much on that, but people remain uncertain about whether there will be further delays,” said Michael Pachter, analyst at Wedbush Securities.

Prime Minister Mark Carney promised Friday to oversee the biggest transformation of Canada’s economy since the end of the Second World War to enable it to “stand up” to Donald Trump.Carney led the Liberal Party to a dramatic fourth mandate in elections on Monday after a campaign focused on the US president’s threats to Canada’s economy and sovereignty.Liberals fell just short of the 172 seats needed for majority control of parliament, but with 168 confirmed wins they will be in a strong position to pass legislation.At his first press conference since his victory, Carney struck a determined note.Known for weighing his words carefully, he said that he was “in politics to do great things, not to be something.””And now that Canadians have honored me with a mandate to bring about big changes quickly, I will work relentlessly to fulfill that trust.”Canada’s strained relations with the United States — its historically close ally and biggest trading partner — were his “immediate priorities,” he said, announcing a trip to Washington next Tuesday to meet with Trump on trade and security issues.Canadians, he noted, elected him “to stand up to President Trump,” adding that he will act “with focus and determination.””Our focus will be on both immediate trade pressures and the broader future economic and security relationship between our two sovereign nations,” said Carney.But he warned also not to expect any “white smoke” from their first meeting signaling a sudden breakthrough.Carney reiterated his message from throughout the campaign that he believes the old relationship between the two North American neighbors “based on steadily increasing integration is over.””The questions now are how our nations will cooperate in the future,” he said.Trump “respects strength,” he added, explaining that this was why he was preparing the country for major changes.The Conservatives, the main opposition party, as well as the Bloc Quebecois (the third-largest party in Parliament), both called for unity after the elections.Carney, who previously headed the Bank of Canada and the Bank of England, promised to maintain tariffs on American products as long as Washington’s measures were in place.- ‘Economic destiny’ -“This will be an incredibly exciting time as we take control of our economic destiny to create a new Canadian economy,” Carney said.To this end, he promised to abolish existing trade barriers between provinces in Canada by July 1, and to strengthen trade with “reliable allies.””Canada has what the world needs, and we uphold the values the world respects,” he said.He announced also that he would unveil his new minority Liberal government in the week of May 12 and that parliament would return on May 26.King Charles III — Canada’s head of state, as it is a British Commonwealth country — will deliver the opening speech, Carney said.”This is a historic honor which matches the weigh of our times,” he emphasized.”It clearly demonstrates the sovereignty of our country,” he said in a pointed reference  to Trump’s ambitions to make Canada the 51st American state.The ceremonial speech, which marks the opening of a new session of the Canadian Parliament, is usually delivered by the governor general, who is the King’s representative in the country.

Prince Harry wants “reconciliation” with his estranged family, but “can’t see” himself bringing “his wife and children back to the UK” after losing a security court case, he told the BBC Friday.”Some members of my family will never forgive me for writing a book … but I would love for reconciliation,” Harry told the BBC. The interview aired hours after London’s Court of Appeal rejected Harry’s appeal to restore his full UK police protection when visiting Britain, a decision that left him “devastated”.”I can’t see a world in which I would be bringing my wife and children back to the UK,” the visibly upset prince told the broadcaster. Harry, who quit the British royal family in 2020, revealed that his father King Charles III “won’t speak to me because of this security stuff.” As a result, he doesn’t know how long his father, who is receiving treatment for cancer, has left to live, said the prince.Charles’ youngest son, also known as the Duke of Sussex, has been embroiled in the years-long legal saga since the UK government downgraded his security when he left to live abroad with his wife, Meghan.Speaking from California, Harry called the court decision a “good old fashioned establishment stitch up” and accused the Royal Household of influencing the ruling.He alleged the security issue had been “used as leverage” to control him and urged his father and the government to help.”There is a lot of control and ability in my father’s hands. Ultimately, this whole thing could be resolved through him, not necessarily by intervening, but by stepping aside, allowing the experts to do what is necessary.”Harry added the original decision to downgrade his protection was “initiated under a previous government, and there is now a new government,” urging Prime Minister Keir Starmer and interior minister Yvette Cooper to intervene.The prince, who will not escalate the case to the Supreme Court, said “I miss the UK” and that “it’s really quite sad that I won’t be able to show… my children my homeland.”

The United States on Friday ended a tariff exemption for goods shipped from China worth less than $800, dealing a major blow to popular e-commerce sites such as Shein and Temu, whose cheap items consumers have come to rely on.The decision was announced last month, with the White House calling it a “critical step in countering the ongoing health emergency posed by the illicit flow of synthetic opioids” from China to the United States.Starting on Friday, goods shipped commercially will now be subject to new tariffs of 145 percent — the current level of levies imposed on goods coming from China.Items sent through the US Postal Service will be hit with duties of 120 percent of their value, or a $100, which will increase to $200 next month. The elimination of the ‘de minimis’ exemption now subjects even low-value imports to tariffs,” EY chief economist Gregory Daco wrote in a recent note to clients, adding it would squeeze “already-thin margins and driving up end prices.”The measures mark the latest salvo in a burgeoning trade war between the United States and China — the world’s two largest economies.The White House has also slapped additional levies of 25 percent on several sectors including automobiles, steel and aluminum from China.Beijing retaliated with sweeping 125 percent levies on US imports. Most other US trading partners face a baseline tariff of 10 percent, except for Mexico and Canada which face a higher 25 percent tariff on goods not covered by a current North America free-trade deal. The move threatens to hammer the business model of several large firms that ship cheap goods from China — including fast-fashion titans Shein and Temu.However, Chinese e-commerce sites listed on the New York Stock Exchange were largely in the green on Friday, most likely reflecting optimism about trade negotiations between Beijing and Washington, and the fact that many of these changes were already priced into the financial markets.At around 14:40 GMT, PDD, owner of Temu, was up 3.7 percent, while Alibaba was up around 4.0 percent.The Financial Times reported earlier this week that Shein was postponing a long-standing plan to list on public stock markets in London due to the looming de minimis changes.Trump first floated cancelling the exemption in February before backtracking after the move caused logistical disruptions.At the time, Beijing accused the United States of “politicizing trade and economic issues and using them as tools.”burs-da/des

Firefighters installed the chimney atop the Sistine Chapel on Friday which will emit white smoke to signal the election of a new pope as preparations proceed just five days before cardinals gather for the conclave.Some 133 Catholic cardinals will gather below Michelangelo’s famed frescoes in the 15th-century chapel, situated inside the Apostolic Palace at the Vatican, to elect a successor to Pope Francis.Held behind locked doors, the conclave will signal to the world the outcome by burning ballots in a special stove, with the chimney emitting black smoke if no one has been elected, or white smoke if there is a new pope.Cardinals from around the world have been called back to Rome following the death on April 21 of Francis, an energetic reformer from Argentina who led the Catholic Church for 12 years.All but four of the cardinal electors — those aged under 80 — who can vote in the conclave are already in Rome, Vatican spokesman Matteo Bruni said.Ahead of the election, cardinals of all ages have been meeting daily at the Vatican to discuss the challenges facing the next head of the world’s 1.4 billion Catholics.Friday’s meeting emphasised spreading the Catholic faith, the need for unity and the risk of “counter-witness” — problems such as sexual abuse and financial scandals — among other issues, Bruni told reporters.Cardinal Luis Antonio Tagle of the Philippines, Italy’s Pietro Parolin — who served as secretary of state under Francis — and Ghana’s Peter Turkson are among the favourites to be the next pope.But there is an old Roman saying that he who enters the conclave a pope, leaves a cardinal — a warning that the favourite rarely emerges as the winner.”I think the Church is in prayer mode, but it must also put itself in surprise mode,” Cardinal Gregorio Rosa Chavez, 82, told reporters as he headed into Friday morning’s meeting.”Remember what happened with Pope Francis — what a surprise!”- ‘Once in a lifetime’ -Among the crowds of tourists and pilgrims in St Peter’s Square on Friday, the installation of the chimney on the Sistine Chapel — a thin metal tube with a capped top — went largely unnoticed.But many were aware that history was in the making.”It definitely is a historic moment and it definitely feels special to be in Rome,” said Glenn Atherton, a Briton visiting from London.”It feels like a once-in-a-lifetime thing,” he told AFP.There are 135 cardinals eligible to vote in the conclave, but two have withdrawn for health reasons.These were Cardinal Antonio Canizares Llovera, Archbishop emeritus of Valencia in Spain, and Cardinal John Njue, Archbishop emeritus of Nairobi in Kenya, the Vatican confirmed.The conclave is due to begin at 4:30 pm (1430 GMT) on Wednesday, where the cardinals will take an oath to maintain the secrecy of the election, on pain of excommunication.That first day they will hold one ballot, with the winner — technically any baptised male, but in reality always one of their own — needing a two-thirds majority, or 89 votes, to win.During the following days they will hold two votes in the morning and two in the afternoon.If a winner is elected, the ballots will be burned in the special stove with the addition of chemicals to emit a white smoke to alert the waiting world to the decision.If no candidate has enough votes during the first morning vote, the cardinals will proceed to a second vote, and only after that point will the ballots be burned.The afternoon session follows the same procedure — if a pope is elected, there will be white smoke, but if not, the cardinals will proceed to a second vote and only after that will the ballots be burned.If no pope is elected, the smoke emitted by the chimney is black.The ancient signalling system — which still remains the only way the public learns whether a pope has been elected — used to involve mixing wet straw with the ballots to produce white smoke, and tarry pitch to create black smoke.But after several episodes in which greyish smoke caused confusion, the Vatican introduced a new system in 2005.At the last conclave, in 2013, the Vatican said it used a mixture of potassium perchlorate, anthracene and sulphur to produce black smoke, and potassium chlorate, lactose and rosin for white.Two stoves stand in a corner of the chapel, one for burning the ballots and the other for the chemicals, with the smoke from both stoves going up a common flue, it said then.Details for the procedure of next week’s conclave have not yet been confirmed.

Media rights group RSF warned Friday about “an alarming deterioration in press freedom” in the United States under President Donald Trump as well as “unprecedented” difficulties for independent journalists around the world.Paris-based Reporters Without Borders, which has been tracking press freedom for the last 23 years, said its main index had fallen to its lowest-ever level.”For the first time in the history of the index, the conditions for practising journalism are poor in half of the world’s countries and satisfactory in fewer than one in four,” an annual review of media freedom globally by the charity concluded.RSF editorial director Anne Bocande highlighted the role of economic pressures in undermining fact-based reporting, with many independent outlets having to close because of funding difficulties.Although spending on online advertising was still rising — hitting $247.3 billion in 2024, according to RSF — a growing share is captured by online giants Facebook, Google or Amazon rather than media companies. “When journalists are impoverished, they no longer have the means to resist the enemies of the press -— those who champion disinformation and propaganda,” Bocande said in a statement.- ‘Authoritarian shift’ -RSF highlighted how Trump had made difficult conditions worse by axing US financial support for state-backed broadcasters such as Voice of America and Radio Free Europe/Radio Liberty (RFE/RL), as well as US foreign development aid that assisted media outlets overseas.After a fall of 11 places in 2024, the United States declined another two to 57th place on the 2025 World Press Freedom Index, one behind formerly war-torn Sierra Leone in west Africa.The index, calculated according to the number of violent incidents involving journalists and other data compiled by experts, was topped by oil-rich Norway for the ninth year in a row. Estonia and the Netherlands were second and third.”In the United States, Donald Trump’s second term as president has led to an alarming deterioration in press freedom, indicative of an authoritarian shift in government,” RSF said. “His administration has weaponised institutions, cut support for independent media, and sidelined reporters.”Large parts of the United States were now “news deserts,” RSF said.Trump signed Thursday an executive order to cut public funding for National Public Radio (NPR) and Public Broadcasting Service (PBS), accusing the news outlets of being biased.On Wednesday, he announced that he was considering legal action against The New York Times.He is also suing media group Paramount over a pre-election interview last year of his Democratic rival Kamala Harris on its CBS channel.Trump alleges it was edited to remove an embarrassing response, although many legal analysts view the case as baseless and likely to be dismissed or fail due to constitutional protections for freedom of the press.The Committee to Protect Journalists (CPJ), a media watchdog, also warned Wednesday that press freedom in the United States was declining and it urged newsrooms to form a united front against the “rising tide of threats” facing them.Other countries that have suffered major declines in press freedom over the last year include Argentina (down 21 places to 87th) under right-wing Trump ally Javier Milei, and Tunisia (down 11 places to 129th).RSF also again highlighted the plight of Palestinian journalists seeking to report on Israel’s devastating bombardment of Gaza.”In Gaza, the Israeli army has destroyed newsrooms, killed nearly 200 journalists and imposed a total blockade on the strip for over 18 months,” it said.Israel meanwhile had dropped a further 11 places to 112th and “continues to repress its own news media”. 

US President Donald Trump signed an executive order on Thursday to cut public funding for NPR and PBS, accusing the news outlets of being biased in his latest attack on traditional media. Trump has long had an antagonistic relationship with most mainstream news media, previously describing them as the “enemy of the people.”A notable exception is the powerful conservative broadcaster Fox News, some of whose hosts have taken on major roles in his administration.National Public Radio (NPR) and the Public Broadcasting Service (CBS) are only partly funded by US taxpayers through the Corporation for Public Broadcasting (CPB) and rely heavily on private donations.Trump in his executive order instructed the CPB Board of Directors and all executive departments and agencies “to cease Federal funding” for NPR and CBS.He added that “neither entity presents a fair, accurate, or unbiased portrayal of current events to taxpaying citizens.”The CPB budget has already been approved by Congress through 2027, which raises questions about the scope of Trump’s order.Politico magazine described the order as “the White House’s biggest escalation yet in its assault on the media” and said it would likely be challenged in court.- ‘Subsidization of Biased Media’ -The White House published on Thursday a fact sheet titled “President Donald J. Trump Ends the Taxpayer Subsidization of Biased Media.”  It said that NPR and PBS “have fueled partisanship and left-wing propaganda with taxpayer dollars, which is highly inappropriate and an improper use of taxpayers’ money.”To support this accusation, the document listed a number of claims about the two media outlets, which it said receive “tens of millions of dollars in taxpayer funds each year.”For example, that “over a six-month period, PBS News Hour used versions of the term ‘far-right’ 162 times, but ‘far-left’ only 6 times,” the White House said.It cited research — from an unnamed source — that showed that congressional Republicans have received far more negative media coverage than Democrats.The fact sheet also listed an NPR feature about “queer animals,” and on PBS the appearance of a “drag queen” on a kid’s show and a movie “which celebrates a transgender teen’s transition.”PBS and NPR were not immediately available for comment.- Press freedom -More than 40 million Americans listen to NPR public radio each week, and 36 million watch a local television station from the PBS network each month, according to their estimates.NPR director Katherine Maher estimated in March that the radio station would receive about $120 million from the CPB in 2025, “less than five percent of its budget.”Media rights group RSF warned Friday about “an alarming deterioration in press freedom” in the United States and “unprecedented” difficulties for independent journalists around the world.In February, the Oval Office stripped the White House Correspondents’ Association of the nearly century-old power to decide which of them cover US presidential events, with Trump saying that he was now “calling the shots” on media access.It also banned reporters from the Associated Press, the top US news agency, from the Oval Office and travelling on Air Force One.This was because the AP continues to refer to the Gulf of Mexico, an international body of water, and not simply the “Gulf of America” as decreed by Trump.The Trump administration has also begun to dismantle America’s publicly-funded “voices” abroad, including Radio Free Europe/Radio Liberty, Radio Free Asia and “Voice of America.”

Tokyo’s envoy for US tariff talks in Washington said Thursday that the second round of negotiations between the two countries had been “frank and constructive.”Japan, a key US ally and its biggest investor, is subject to the same 10 percent baseline tariffs imposed on most nations plus steeper levies on cars, steel and aluminum.President Donald Trump also in early April announced “reciprocal” tariffs on Japan of 24 percent, but later put them on pause for 90 days along with those on other countries except China.”We were able to move forward in frank and constructive discussions to reach a mutually beneficial agreement as soon as possible,” Ryosei Akazawa told reporters Thursday.”We were able to advance concrete discussions on, for example, expanding trade between our two countries, non-tariff measures and economic and security co-operation.”Akazawa said he had “strongly proposed” to US Treasury Secretary Scott Bessent and other officials that Trump’s sweeping levies on trade partners be reviewed.The next round of ministerial-level talks will “take place intensively from mid-May onwards,” Akazawa said. Thursday’s talks followed an initial meeting in mid-April.Akazawa said any deal on tariff relief would be in the form of a package, which will be announced when finalized.”We have not yet reached the point where we can find areas of agreement,” Prime Minister Shigeru Ishiba told reporters.”However, I have been informed that the discussion was very positive and constructive.”- ‘Firmly defending’ interests – Trump has repeatedly called for a stronger yen to boost US exports, but foreign currency rates were not discussed Thursday, Akazawa said.The yen has risen significantly since Trump’s tariffs were announced, and was trading at 145 for a dollar, compared with 158 in mid-January.Japanese media had said the second round of talks could focus on automobiles and agricultural products, which Akazawa called “very important economic sectors.””We have no intention of negotiating in a way that would be detrimental to the national interest, so we have been firmly defending what needs to be defended and saying what needs to be said,” he said.Akazawa had told reporters at the airport on Wednesday that “Japanese companies are losing money each and every day” because of US tariffs. He said Thursday that he did not discuss China with the US officials, adding that Japan has a “very strong trade relationship with China too.””We will continue to monitor the developments in US-China relations, including the tariff measures against China, with great interest.”Separately, Finance Minister Katsunobu Kato said on a TV Tokyo program on Friday that Japan’s holdings of US Treasuries could be a bargaining chip in the negotiations.”It is natural to discuss everything that is a negotiation card… Whether we use them or not is another matter,” Kato said, according to TV Tokyo.”We don’t keep (the Treasury holdings) to support the US. We will intervene if our country is in trouble.”