Reported 26 days ago
US President Donald Trump's newly announced auto tariffs are expected to diminish the chances of the Bank of Japan raising its benchmark interest rate in May. Economists note that the tariffs will negatively affect Japan's auto sector and wider economy, prompting the BOJ to take a cautious approach. The tariffs, effective April 2, could add pressure to the yen and influence Japan's GDP growth slightly, as local automakers remain relatively competitive in the US market. Prime Minister Shigeru Ishiba is considering countermeasures against the US while advocating for exemptions for Japanese cars.
Source: YAHOO