With exports holding up despite increased tariffs imposed by US President Donald Trump, the Japanese economy grew at a better-than-expected 1% annual pace in the most recent quarter. The United States has levied a 15% tariff on Japanese imports. For certain items, that is greater than previously, although it is lower than the 25% duty that Trump had previously declared.
In the fiscal first quarter, the real gross domestic product (GDP), which gauges the total worth of a country’s products and services, increased by 0.3% over the previous quarter, exceeding experts’ projections.
The possibility that Japan’s central bank would go forward with raising its benchmark interest rate from its long-standing position around zero in order to help control inflation is increased by the country’s better-than-expected economic performance in the most recent quarter.
Prime Minister Shigeru Ishiba is under pressure to step down after the ruling Liberal Democrats and their coalition partner, Komeito, failed to secure majorities in both houses of parliament. The pressure has increased as a result of Trump’s higher tariffs, which he imposed in an attempt to persuade businesses to expand their manufacturing in the United States.
Also Read:
In Texas, a Deadly Measles Outbreak Does little to Dispel Vaccine Skepticism
