TechFlow news, May 7 — According to Jinshi Data, Keidanren Chairman Masakazu Tokura expressed concern over weakening corporate confidence in Japan amid fears that Trump's proposed tariff hikes could trigger a global economic downturn. Tokura stated, "Many across industries are more concerned about how uncertainty may lead to reduced spending and investment than about any direct impact from U.S. tariffs." He also noted that tariffs have particularly hit Japanese companies in the automotive, steel, and aluminum sectors hard. While Japan has sought concessions from the Trump administration, the U.S. has refused to grant Japan tariff exemptions, stating that only specific-country portions within reciprocal tariffs are negotiable. Tokura said Japan’s government under Prime Minister Shigeru Ishiba “must strive to eliminate all tariffs as quickly as possible,” urging Tokyo to adopt a more resolute stance in negotiations with Washington.
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