General
Japan Will Spend $6.3 Billion to Shield Its Economy From Trump’s Tariffs
Lawmakers approved a plan to help companies and consumers as officials bargain in Washington for relief from debilitating auto levies.
Japan has joined a growing list of nations, including Spain and Canada, that are assembling aid plans to help blunt the domestic impact of President Trump’s tariffs.
On Tuesday, Japan approved a $6.3 billion spending package to “fully support” businesses and households adversely affected by the tariffs, Cabinet Secretary Yoshimasa Hayashi said in a briefing. The funds will bolster the finances of small and medium-sized businesses and subsidize household energy costs, he said.
The measures underscore the precarious position the Japanese government is in ahead of an upper house election likely to take place in July. On top of managing an expected economic slowdown caused by U.S. levies, officials are dealing with public anger over higher consumer prices and growing pressure to reduce Japan’s ballooning government debt.
