On Friday, the Prime Minister of Japan Shigero Ishiba said that the government has developed an economic emergency package to relieve any impact on industries and families of new US import rates.
The package includes support for corporate financing and subsidies to reduce petrol prices of 10 yen ($ 0.07) per liter and partially cover electrical accounts for three months since July, has shown a government document.
To help companies of small and medium -sized more vulnerable dimensions to economic oscillations, a greater number of companies will be entitled to an interest conceived by low interest interest for the government.
“I commissioned the members of the cabinet to make the utmost effort to help companies and families who are worried about the impact of rates,” Ishiba said during a meeting of Taliffi.
Rates may have a significant effect on industries in support of the economy, such as cars and steel, he said.
The government will consider further measures to increase internal consumption, depending on the impact of the US rates on the automotive industry of Japan.
The Friday package can be financed by a reserve fund, eliminating the need to fill in an extra budget, said the Minister of Economy Ryosei Akazawa.
On April 2, the president of the United States Donald Trump imposed a 25% rate on cars imports. He also announced a 24% rate on all Japanese products, later reduced to 10% for 90 days.
Akazawa, who acts as a main Japanese commercial negotiator, will visit Washington next week for a second round of commercial negotiations.
The Nikkei newspaper reported Thursday that Japan is taking into consideration the increase in US imports from the United States as part of the negotiations.
Source: Terra
Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.
