Japan corporations getting ready for Trump tariffs, survey reveals

TOKYO (Reuters) – Most Japanese corporations with operations in the USA are getting ready for potential further tariffs beneath the incoming Trump administration, in line with a survey launched on Friday by the Japan Exterior Commerce Group.

These efforts embrace strengthening manufacturing and procurement within the U.S. and contemplating product worth hikes, the survey confirmed. It was performed earlier this month and focused 694 corporations, the Japanese government-related commerce physique mentioned.

Of the 123 respondents that anticipated to be affected by tariff insurance policies, almost three-fourths mentioned these results can be unfavourable for his or her enterprise, whereas 17% mentioned they’d be blended and 10% mentioned they’d be constructive.

Japanese corporations additionally expressed issues concerning the impact of U.S. excise taxes focusing on different international locations, whereas a proposed 60% tariff on Chinese language items was seen as prone to have the most important affect on provide chains.

Amongst corporations anticipating modifications in immigration and visa insurance policies, greater than 60% anticipated a unfavourable affect as a result of labour shortages.