The fallout from the U.S.-China trade war on Japan's economy will be a key ...
TOKYO - The fallout from the U.S.-China trade war on Japan’s economy will be a key factor in deciding whether to proceed with a scheduled sales tax hike this year, a senior Japanese ruling party official said on Friday.
Katsunobu Kato, head of the Liberal Democratic Party’s general council and a close aide of Abe, said such a crisis was hard to predict, and global growth was likely to rebound later this year. “The biggest factor to look out for is the U.S.-China trade friction,” Kato said. “Global economic developments change all the time, so we need to watch out for them.”
The Bank of Japan could be called upon to help revive the economy depending on how severe the shock is, though it was up to the central bank to decide what steps it takes, he added.
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