The chief Japanese trade negotiator, Riosi Akazawa, stated on Tuesday that the trade agreement with the United States has always guaranteed Japan to obtain the lowest customs tariff for chips and medicines among all the agreements that Washington negotiated.
“If a third country with the United States agrees with less customs duties on chips and medicines, then the same fees will be applied to Japan,” Akazawa added at a press conference.
On the other hand, Japan announced, on Tuesday, that the trade agreement it concluded with the United States has expanded the doubts of American commercial policies, but should continue to pay attention to the dangers of these policies, which are the pressure on the Japanese economy.
Tokyo concluded a commercial agreement with Washington last week, under which customs tariffs are reduced to 15 percent of 25 percent that were previously proposed, including on cars, which are a basic pillar of export -based economy.
In the monthly economic report issued by the Cabinet Office for the month of July, the government maintained a general evaluation indicating that the Japanese economy is recovering at a “moderate pace”, despite the effects of US tariffs in some sectors, including cars.
An official at the Cabinet Office said at a press conference: “With regard to the customs definition procedures that have already appealed, car export prices to the United States have decreased significantly since April,” an official at the Cabinet Office said at a press conference. However, the official stated that there are no indications indicating a noticeable change in export sizes, manufacturing price indicators, or employment due to customs duties.
“We used to say that there is a growing threat from the slowdown in the Japanese economy as a result of the influence of American commercial policy, but we do not believe that this is the case now” … He continued: “On the other hand, the risk of slowdown remains existing; So we have to monitor it closely. ”
In another context of the report, the Cabinet Office reduced its evaluation of exports for the first time in a year; This reflects a slowdown in exports of semiconductor manufacturing equipment to Taiwan and South Korea.
The government also modified its language over the prices of local companies for the month of July. She said that the frequency of growth was “slowing” recently, after she said in June that it was “gradually rising”, and attributed this to the government’s support for energy and the growth of food prices. Regarding special consumption, which represents more than half of the Japanese economy, the government has in its opinion that it is witnessing a recovery.
In the markets, the Japanese Nikki index closed a decrease in the third consecutive session, Tuesday; It has prompted concerns about the expectations of local companies investors to reap profits after the recent rise.
The Nikki index fell 0.79 percent to 40674.55 points. The broader Topics index fell 0.75 percent to 2908.64 points.
Japan in the middle of the results of the results, and the investors seek cautious investors; Because the imposition of customs duties at 15 percent on exports to the United States may cast a shadow over the business of companies.
Oweno indicated that the expectations that Japanese Prime Minister Shikiro Ishiba will step down from his position, led to the Nikki index to the highest level in the year last week. He said: “The market was hoping that a person would be replaced by adopting measures to stimulate the economy.”
Ishiba pledged to stay in office after his ruling coalition suffered a severe defeat in the elections of the Higher Chamber of Parliament. The chips -related shares led the declines, on Tuesday, and the arrow of “Laserk” declined 8.3 percent to be the worst performance on the Nikki index. The share of “Tokyo Electron” fell 1.2 percent to become the most negative impact on the Nikki index. Advanstist’s shares fell one percent.
All 33 sub -indicators on the Tokyo Stock Exchange were downloaded, with the exception of only seven. The auto sector lost 1.83 percent and was the worst performance.
In contrast, Nomura Research jumped 8.33 percent after the consulting and information technology consulting company announced its net quarterly profits 17 per cent.
