KATO: RECENT TRADE DEALS HAVE HELPED SHIELD JAPAN FROM TARIFF SHOCKS
Japan's Economy Minister Akazawa said he cannot predict when the U.S. will impose the agreed auto tariff cuts. 🚗🇺🇸
Japan Economy Minister Akazawa: No Clear Timeline for U.S. to Implement Agreed Auto Tariff Reductions
Japan’s economy team signalled growing concern that U.S. trade barriers will curb the country’s exports and slow global demand. Economy Minister Keiko Akazawa said the higher U.S. tariffs are poised to hurt Japan’s growth prospects, warning that the impact could spread through supply chains. Akazawa added that she has no indication when Washington will implement previously agreed cuts to automobile tariffs, leaving Japanese carmakers facing continued uncertainty in their largest overseas market. Finance Minister Shunichi Kato echoed the caution, forecasting a drag on economic activity but noting that Japan’s recent trade agreements should cushion some of the shock. Foreign Minister Yoshimasa Hayashi said authorities are closely tracking data to assess how the tariffs are feeding through to export orders and industrial output.