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The Finance Ministry on Tuesday maintained its view on Japan’s economy for the eighth straight quarter while warning of downside risks from rising prices and steep U.S. tariffs.
The Japanese economy remains on a gradual recovery trend, the ministry said, while leaving its economic views unchanged for all of the country’s 11 regions.
The ministry kept unchanged its views on personal consumption, production and employment for all regions.
But many manufacturers expressed concern about the impact of U.S. President Donald Trump’s sweeping tariffs on production, according to the ministry.
A chemical company in the Kanto region was quoted as saying that the tariffs would force it to raise prices as it imports materials from China for U.S. production.
A transport machinery maker in the Tokai region said it may see a significant impact from the tariffs.
Retailers noted an impact from high prices, according to the ministry.
A home improvement store operator in the Tohoku region said budget-minded consumers are reluctant to spend.
A supermarket operator in the Tokai region said high prices of agricultural products have boosted sales.
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