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ECONOMY > Trade

U.S. tariffs on Chinese imports to prompt Japanese firms to leave China

  • September 19, 2018
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All papers reported extensively on the additional punitive tariffs that the Trump administration plans to impose on $200 billion worth of Chinese imports, saying that since Beijing is expected to level corresponding duties against American products, the bilateral trade friction is bound to escalate. The dailies said some Japanese companies are inclined to review their production plans in China since additional tariffs will be imposed on the bulk of their U.S-bound products assembled there. Sankei projected that the Trump administration’s trade policy will impel Japanese companies to abandon China as a production platform. Yomiuri wrote that Japanese business leaders are worried that the escalating trade row between Washington and Beijing will adversely affect the Japanese economy since it will cause a slowdown in the U.S. and Chinese economies as well as the global economy. The business leaders also reportedly project that they will become more cautious about investing at home and abroad. Keidanren reportedly plans to dispatch a delegation to Washington this autumn to urge political leaders in Washington and regional governors to handle the situation calmly.  

 

On the escalated trade friction between the U.S. and China, Chief Cabinet Secretary Suga told the press yesterday: “It is extremely important for the U.S. and China to build a relationship conducive to stable growth and the development of the world economy. We want them to communicate closely and deal with the situation properly.”    

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