Japan's Economy Shrinks Amid US Tariffs

Japans economy experienced a significant downturn, shrinking by 1.8% in Q3, marking the first decline in six quarters. This contraction is largely due to US tariffs, which affected exports by 1.2%. Despite predictions, the fall was less severe than expected, with exports dropping 4.5% annually. Imports decreased slightly, but private consumption saw a small increase. Japans export-driven economy faces challenges from US tariffs, even as some production moves overseas.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.