[Public Papers of the Presidents of the United States: GEORGE W. BUSH (2001, Book I)]
[March 19, 2001]
[Pages 253-254]
[From the U.S. Government Publishing Office www.gpo.gov]
Remarks Prior to Discussions With Prime Minister Yoshiro Mori of Japan and an Exchange With Reporters
March 19, 2001
President Bush. It's my honor to welcome the Prime Minister of our
close friend to the Oval Office. Mr. Prime Minister, welcome.
This meeting is an important meeting because it gives us both a
chance to confirm the importance of our relationship. We view Japan as a
very strong friend and ally, and that's the way it's going to be during
my administration. And we've got such a good friendship and such a
strong alliance that we're able to overcome occasional problems that
might arise. We can do so in the spirit of friendship.
So I'm honored that the Prime Minister is here. We're going to have
a--we'll discuss a lot of issues: We'll discuss our economies; we'll
discuss trade; we'll discuss our alliance and how best to work together
to keep the peace. I'm looking forward to a very fruitful and important
discussion.
Mr. Prime Minister.
Prime Minister Mori. I have spoken to President Bush over the phone
three times, but I am delighted today that I am able to have a face-to-
face meeting with the President. In today's meeting, as the President
just said, I would like to reaffirm the strong alliance between Japan
and the United States and would like to discuss a very--a broad range of
issues, including various issues in international affairs, and would
like to set out the fundamental direction in which the Japan-U.S.
alliance should head in the 21st century.
I would like to explain the various measures which our Government
has taken so that the Japanese economy will have a fully sustainable
economic growth. And I'd like to express my strong determination to
pursue necessary policies for that. I'd also like to express to the
President my hope that United States will take appropriate macroeconomic
policies to deal with the U.S. economy that is slowing down.
Bank of Japan's Zero-Interest-Rate Policy
[At this point, a question was asked in Japanese, and a translation was
not provided.]
Prime Minister Mori. I, of course, will be explaining to the
President the decision made by the Bank of Japan yesterday, and I
sincerely hope that it will have--and I am certain that it will have a
positive effect on our economy.
U.S. and Japanese Economies
Q. Mr. President, with both the Japanese and the American economies
in such fragile states, could you explain how you see the
interrelationship between the economies and what you'd like to see the
Japanese Government do to address its problems and particularly in the
financial sector?
President Bush. First, we've got to get our own economy growing the
way I know it can. That's why I'm advocating tax relief and free trade
regulatory relief. And I look forward to explaining to the Prime
Minister that we do have a plan to give our economy a second wind. I'm
very confident about our economy. I know it can beat expectations. I
will explain that to him, as clearly as I can, about when our policies
are in place, how optimistic I am about economic growth.
And secondly, I look forward to hearing Japan's view of reform,
internal reform. I'm
[[Page 254]]
confident that's going to be a large part of our discussions today.
The interrelationship between our two economies is important. When
you combine our economies, we represent about 40 percent of the gross
domestic products of all the nations added up. And that's a very
important--and therefore, our economies are very important to the world.
And the stronger we are, the more likely it is there will be prosperity
in other parts of the world. And so this is going to be a very important
part of our discussion.
Note: The President spoke at 10:55 a.m. in the Oval Office at the White
House. Prime Minister Mori spoke in Japanese, and his remarks were
translated by an interpreter. A tape was not available for verification
of the content of these remarks.