Japan’s LDP to Propose Emergency Measures to Counter US Tariffs

Japan’s ruling Liberal Democratic Party (LDP) is poised to unveil an emergency economic proposal on Monday in response to recently imposed US tariffs.

According to documents obtained by Bloomberg, the proposal will urge the government to bolster loan support for affected businesses and stimulate domestic demand to mitigate potential economic damage.

The LDP’s draft proposal reportedly warns that the US tariffs could “fundamentally alter the nature of free and fair economic order.” It also expresses strong disappointment that Japan faces additional tariffs despite having requested exemptions.

The proposal outlines a five-pronged strategy to address the challenges posed by the tariffs:

• Expanding loan programs to provide financial assistance to companies struggling due to the tariffs.
• Implementing measures to safeguard employment and prevent job losses caused by trade disruptions.
• Encouraging domestic consumption to offset potential export declines.
• Investing in initiatives to improve the competitiveness of Japanese industries in the global market.
• Remaining adaptable and prepared to implement further responsive measures as the situation evolves.