Japan's government has revised its economic assessment, expressing concerns over the uncertainty stemming from U.S. trade policies under President Donald Trump. In its monthly economic report, the Cabinet Office maintained that the domestic economy is recovering moderately, driven by a solid corporate sector. However, it highlighted the potential negative impact of U.S. tariffs on global trade and the Japanese economy, which is heavily reliant on exports. The report also noted the risk of declining consumer spending due to persistent inflation, particularly in food prices. In March, rice prices surged by 92.1% year-over-year, marking the highest increase since comparable data began in 1971. This sharp rise in prices could lead to reduced consumer confidence and spending, posing a downside risk to Japan's economic growth. Wall Street has responded to these developments by slashing stock market forecasts, with major banks like J.P. Morgan and Bank of America lowering their expectations for the S&P 500 to a gain of just 2% for the year. The fear of a broader economic slowdown, fueled by Trump's tariff policies, has led to a volatile market environment. In the midst of this uncertainty, prominent insiders such as Mark Zuckerberg of Meta Platforms Inc., who sold 1.1 million shares worth $733 million, and Jamie Dimon of JPMorgan Chase & Co., who sold shares valued at approximately $234 million, as well as Safra Catz of Oracle Corp., who sold 3.8 million shares worth $705 million, all did so in the first quarter of 2025 before the market downturn triggered by Trump's tariff announcements. The stock of Meta Platforms dropped 32% from its peak of 736 dollars.