US Edition
US-Japan Trade Deal: PM Ishiba Hails ‘Win-Win’ Agreement, Warns Implementation Challenges — Here's What He Said
JAPAN, AUG 4 – Prime Minister Ishiba plans an extra budget potentially reaching 10 trillion yen to mitigate economic impacts from US tariffs amid unclear timing for tariff cuts, officials said.
- In a recent announcement, President Donald Trump unveiled a major trade deal with Japan that includes a commitment of $550 billion in Japanese investments directed toward the United States.
- The deal lowered U.S. tariffs on Japanese goods, including autos, cutting tariffs to 15% from a threatened 25%, though timing for cuts remains unclear.
- In a parliamentary session on Monday, Japanese Prime Minister Shigeru Ishiba expressed the government's willingness to prepare an additional budget if necessary to mitigate the economic effects of U.S. tariffs.
- Japan's current fiscal budget stands at a record 115.5 trillion yen, with national debt amounting to 250% of GDP. Some analysts believe that a supplementary budget may be proposed, potentially totaling up to approximately 10 trillion yen, which would necessitate issuing additional government debt.
- Ishiba’s coalition faces pressure after a recent election defeat to boost spending and cut sales tax, but implementing the deal and managing fiscal strain pose significant challenges.
12 Articles
12 Articles
Japan ready to compile extra budget to cushion U.S. tariff blow, Ishiba says
Japanese Prime Minister Shigeru Ishiba said on Monday the government is ready to compile an extra budget to cushion the economic blow from U.S. tariffs, a move that would add strain to the country's already worsening finances. After suffering a stinging defeat in last month's upper house election, Ishiba's minority…
The Straits Times
Japan ready to compile extra budget to cushion US tariff blow, PM Ishiba says
TOKYO - Japanese Prime Minister Shigeru Ishiba said on Monday the government is ready to compile an extra budget to cushion the economic blow from U.S. tariffs, a move that would add strain to the country's already worsening finances. Read more at straitstimes.com.
US-Japan trade deal: PM Ishiba hails ‘win-win’ agreement, warns implementation challenges — Here's what he said
The trade deal reached last month between the US and Japan was “win-win” for both countries, but implementing the terms of the pact may be a bigger challenge than reaching the deal, Japanese Prime Minister Shigeru Ishiba said.
Japan PM Says Win-Win Trade Deal With US May Be Hard to Implement
The trade deal reached last month between the US and Japan was “win-win” for both countries, but implementing the terms of the pact may be a bigger challenge than reaching the deal, Japanese Prime Minister Shigeru Ishiba said.
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