Keidanren Chairman Warns of Weakening Business Confidence Amid Trump Tariff Fears

Published: May 8, 2025 11:34

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Masakazu Tokura, Chairman of the Japan Business Federation (Keidanren), issued a warning, expressing concern about the weakening confidence of domestic enterprises in Japan due to fears that Trump's tariff hikes could trigger a global economic recession. He pointed out that various industries were worried about a decline in spending and investment caused by uncertainty, rather than the direct impact of US tariffs. Tokura specifically mentioned that tariffs had dealt a heavy blow to enterprises in the domestic automotive, steel, and aluminum industries. Japan has been trying to secure tariff exemptions from the Trump administration, but the US has refused to grant exemptions to Japan, stating that only some tariffs were negotiable. Tokura urged the Japanese government to eliminate all tariffs as soon as possible and called on it to maintain a firm stance in negotiations with the US.

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