The list of goods affected by the new round of tariffs was apparently modified by the White House, which removed about 300 goods from an initial list that included smart watches, certain chemicals, bicycle helmets, high chairs, and other goods. Despite this, the latest actions could no doubt ramp up trade tensions, which could negatively affect Japan’s economy, but that has yet to materialize.
In less than 24 hours, China responded with $60 billion worth of tariffs on U.S. goods beginning on Sept. 24. The new round of tariffs from China are said to affect a list of 5,207 products within a range of 5 to 10% as both the U.S. and China have already slapped each other with tariffs worth $50 billion total.
While the aftereffects of this tit-for-tat tariff war has yet to show in the latest export data, analysts, nonetheless, feel that it will eventually impact Japan as the trade war escalates.
“Overall, the U.S.-China trade war would have a negative impact on Japan’s exports and the economy,” said Koya Miyamae, an economist at SMBC Nikko Securities. “But the impact isn’t apparent in the August trade data… Any effect could come out from September onwards.”
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