Bank of Japan Governor Haruhiko Kuroda on Tuesday warned that escalating U.S.-Ch...
TOKYO - Bank of Japan Governor Haruhiko Kuroda on Tuesday warned that escalating U.S.-China trade tensions could hurt business sentiment and inflict widespread damage on the economy.
“If trade tensions persist, they would have a widespread impact on global and Japanese economies via business sentiment and market developments,” Kuroda told parliament.Other Japanese policymakers also voiced concern over damage from the trade war but maintained their view Japan’s economy was on a solid footing, signaling that Tokyo plans to proceed with a scheduled sales tax hike in October.
“We’ll do our utmost to respond to concerns over the impact” the tax hike could have on the economy, Suga told a briefing on Tuesday, suggesting that Tokyo will go ahead with it and deal with any damage to growth through additional spending.Prime Minister Shinzo Abe has repeatedly said he would proceed with the twice-delayed tax increase to 10% from 8% in October. But some lawmakers have called for a postponement on concern it could tip Japan into recession.
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