ABSTRACT
The Yen/Dollar Committee consisted of representatives of the Ministry of Finance and the Department of the Treasury, although both would occasionally allow others to attend particular meetings. The Treasury controlled financial services; merchandise and agriculture were left to the United States Trade Representative (USTR). The division of authority had certain logic, given the Treasury’s obvious expertise in the financial area. Similarly, the State Department had an inherent interest in anything involving international affairs, as did the USTR over anything involving international trade. The USTR found itself excluded from the yen/dollar process, although more by default than intent. Foremost, the USTR developed a type of trade negotiation expertise. Unlike the multi-faceted agencies and departments in the executive branch, the USTR had a single bailiwick: international trade. The Treasury's role was facilitated by the presence of an attache in Tokyo, a critical source of intelligence.
