*Note: This is a provisional translation for reference purpose only.
9:25 - 9:30 a.m.
Friday, July 6, 2018
The third floor lobby, Prime Minister’s Office
US-China Trade Conflicts
Q: It is today that the US and China will invoke additional tariffs. As concerns about trade conflict between the two are growing, what kind of position will you take on this issue?
A: The US and China, the world's first and second largest economic powers, are very important for the entire world including Japan, whose efforts for establishing a good relationship lead to stable growth and development of the global economy. Therefore it will be quite regrettable if they begin to impose additional tariffs on each other, in a tit-for-tat situation. We will continue to make necessary efforts, while closely watching the trends of their consultations as well as assessing the impact on Japanese companies and the Japanese economy.
Q: As for the intensifying US-China conflicts, medical devices and semiconductor devices are included in the first version of the US target list. The second version includes arithmetic units. What kind of direct or indirect impact do you think this would have on Japanese companies?
A: We will have to look closely at the impacts, but generally speaking, global industry is now closely connected within the global supply chain. Therefore, we believe that there will be various effects other than those directly to the US and China, but it is still difficult to identify what impacts might occur at this time.