NHK reported this morning on the results of an annual survey by the Japan External Trade Organization (JETRO) on Japanese companies’ overseas operations. The survey was conducted from last November to January and targeted about 3,200 firms. The network said 29% of respondents, down 4.5 points from last year, chose the United States as a nation or region where they plan to expand their business. The number of companies that chose Mexico also dropped 1.6 points to 6.9%. The network said more than half of the companies cited the Trump administration’s policies as a challenge to doing businesses in the U.S. and Mexico, adding that JETRO reportedly attributed this to growing uncertainty caused by President Trump’s policies, such as the review of NAFTA. Meanwhile, China took first place as a nation or region where Japanese firms want to expand their business at 49.4%, down 2.9 points, and Vietnam came in second at 37.5%, up 3.4 points.