Japanese Experts: The High Tariffs Imposed by the U.S. Will Deal a Serious Blow to the Japanese Economy

Jin10 data reported on July 12 that U.S. President Trump stated that a 25% tariff will be imposed on imported products from Japan starting August 1. Hidetoshi Tashiro, chief economist of Nihon Mugen Contract Co., indicated that if the 25% tariff is widely applied to other categories of goods, it will deal a fatal blow to manufacturers in almost all industrial sectors in Japan. In fact, this impact has already begun to manifest; currently, many small and medium-sized enterprises that produce parts for large companies have seen their orders cut off. The issue is no longer a matter of “might happen,” but rather “is happening.” This will have a devastating impact on the overall Japanese economy. Recently, the Economic and Social Research Institute of Japan announced that the May Economic Index has shown that the overall assessment of the economic situation has turned to “deterioration” for the first time since July 2020, indicating a high probability that the Japanese economy is in a recession.