Concerns Growing over Impact on Japan from U.S.-China Tensions
Newsfrom JapanEconomy Politics
Tokyo, May 9 (Jiji Press)--Concerns are growing in Japan over the possible impact on its economy from intensifying trade tensions between the United States and China.
Some private economists estimate that the trade war could push down Japan's annual exports by almost one pct. Japan's exports to China account for about 20 pct of the country's total.
The United States plans to raise tariffs on 200 billion dollars' worth of Chinese goods from the current 10 pct to 25 pct on Friday.
Shunsuke Kobayashi, economist at the Daiwa Institute of Research, forecasts that the higher tariffs would hold back a recovery in the Chinese economy, which has been expected to become evident starting in the latter half of this year.
He estimates that Japan's annual exports would be dragged down by nearly one pct due to a possible decrease in demand in China for Japanese electronics parts and manufacturing equipment.
[Copyright The Jiji Press, Ltd.]