US-China Trade War Hurting Japanese Manufacturers, Japan Says
The U.S.-China trade war has damaged some Japanese manufacturing companies, Japan’s trade minister said during a Sept. 3 press conference, adding that the companies have lost revenue compared to previous years. Minister Hiroshige Seko said Japan’s manufacturing industry in April and June “fell below the previous year for the first time in two years,” according to an unofficial translation of the transcript of the press conference.
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But while the trade war has affected Japan’s exports, Seko said Japan’s economy is mostly centered on domestic demand and is “solid.” He said Japan will continue to monitor how the trade war impacts Japanese companies and urged the U.S. and China to end their dispute.