Jiji Press TOKYO (Jiji Press) — Japanese businesses are accelerating steps to move their production of goods bound for the U.S. out of China, as the two countries implemented their latest tariff increases on each other’s goods Sunday.
With no end in sight for the U.S.-China trade war, Japan’s capital spending, which has been supporting the domestic economy, declined for the first time in two years in the first quarter of fiscal 2019, which started in April.
A Finance Ministry survey released Monday showed that manufacturers, mainly exporters, reduced their capital spending 6.9 percent from a year before in April-June. read more here