Trump Tariffs Already Impacting Japanese Companies, Survey Reveals

A recent survey conducted by the Ministry of Finance in Japan has revealed that the impact of Donald Trump’s tariff campaign is already being felt by Japanese companies, Bloomberg reports.

Approximately 10% of the 518 companies surveyed reported that the tariffs have negatively affected their businesses, with even more expressing concerns about the potential for future disruption.

The survey, conducted between April 9 and 15, included companies from various sectors including automotive, steel, and services. According to the release on Tuesday, automakers reported experiencing order cancellations, and one firm was forced to reduce factory worker hours as a direct result of the tariffs. Companies in the tourism sector voiced concerns that a stronger yen, driven by the trade uncertainty, could discourage inbound tourism

Japan initiated formal trade negotiations with the US last week, seeking an exemption from the tariffs, but the initial round of talks concluded without a breakthrough. The Trump administration has imposed a 25% levy on cars, steel, and aluminum from Japan, despite Tokyo’s repeated requests for exemptions. Japan was also initially subjected to a 24% across-the-board tariff, which was subsequently reduced to 10% for a 90-day period starting earlier this month.

The survey results highlight the growing economic pressures on Japanese businesses as a result of the ongoing trade disputes. This week, Finance Minister Katsunobu Kato is scheduled to discuss currency-related issues with his US counterpart, Treasury Secretary Scott Bessent, during a trip to Washington to attend meetings, including a Group-of-20 gathering.