As U.S. President-elect Donald Trump begins his second term in office, Japanese businesses are anxiously calculating the potential fallout from the raft of policy changes he has pledged to deliver — especially when it comes to ramped-up tariffs.
Highlighting this unease, more than 70% of nearly 700 U.S.-based Japanese companies said in a Japan External Trade Organization survey conducted earlier this month that they expect a negative impact from any additional tariffs imposed by the new administration.
Indeed, economists, legal experts and business leaders concur that additional tariffs — whether directly aimed at Japan or not — could hurt its export-reliant machinery and automobiles industries while shattering the global economy. Mitigating any damage will require a more nimble Japanese side to forge an even closer relationship with Trump’s…
