INTERVIEW: ASEAN+3 Economist Warns of U.S. Tariff Impact on Japan
Tokyo, April 15 (Jiji Press)--Tariffs imposed by the administration of U.S. President Donald Trump could dampen Japan's economic growth, Hoe Ee Khor, chief economist at the ASEAN+3 Macroeconomic Research Office, or AMRO, has warned.
In a written interview with Jiji Press, Khor said the U.S. tariffs could lower Japan's gross domestic product growth in 2025 from 1.3 pct to 1.1 pct. "The impact could be greater if retaliation results in an escalation of the trade war and significant dampening of global investment appetite," he added.
Japan's GDP growth may fall to 0.4 pct in 2026, when the impact of the higher tariffs is expected to fully materialize, Khor added.
He also said that inflation in Japan could decelerate from what has been projected, due to slower economic growth and a possible stronger yen.
Japan suffers from "a persistently elevated fiscal deficit and a high level of public debt," and the country "will need to pursue steady and credible fiscal consolidation over the medium term," the economist said. Meanwhile, he added that a flexible fiscal policy would be justified in the short term due to uncertainties stemming from U.S. tariffs.
(2025/04/15-20:46)
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