Japan’s economy shrank as a result of Trump’s tariffs

Japan’s economy showed signs of growth earlier in the year, but economists have predicted that the optimistic reports were inflated as exporters rushed to beat U. S. tariffs. Japan’s largest export is vehicles, and its top destination for exports is the United States. According to a government economic report, Japan’s gross domestic product fell 0. 4% in the July to September quarter on a quarter-by-quarter basis. The decline was the country’s first contraction in six quarters. The annualized contraction, however, was less than expected, according to Reuters, which anticipated a 2. 5% annualized contraction this quarter. Japanese automakers have seen exports plummet, and residential housing investments have also contributed to the contraction, according to the news outlet. TRUMP HAILS JAPAN’S NEW PRIME MINISTER, SAYS US IS ‘ALLY AT THE STRONGEST LEVEL’ Trump visited Tokyo in late October during his trip through Asia to meet the new Prime Minister, Sanae Takaichi, for the first time.
https://www.washingtonexaminer.com/policy/economy/3889055/japan-economy-shrank-result-trump-tariffs/