Japan’s government on Friday unveiled a package of emergency economic measures to counter the adverse effects of U.S. President Donald Trump’s higher tariffs, ahead of a second round of bilateral trade negotiations expected next week.
The relief package consists of five pillars, including support for corporate financing and steps to stimulate consumption, in a bid to alleviate concern that the U.S. levies could weigh on Japan’s exports, potentially taking a heavy toll on the broader economy.
The government of Prime Minister Shigeru Ishiba also pledged to reduce gasoline and diesel prices by 10 yen per liter, provide subsidies for energy bills and consider expanding the scope of low-interest loans for smaller companies from next month.
File photo taken in August 2023 shows a person pumping gas into a vehicle at a gas station in Moriguchi, Osaka Prefecture….
