Expect significant new tariffs on Chinese imports and moderate levies on goods from other nations , as President-elect Donald Trump rolls out his protectionist agenda. However, with his preference for chaotic policymaking and sudden shifts , there’s uncertainty on how soon these import taxes will actually hit. Dubbed “ Tariff Man ,” Trump aims to use tariffs both strategically and tactically . He’s mentioned taxing all Chinese goods up to 60% and potentially setting 10%-20% tariffs on imports globally , but details on these plans remain vague . Key players within Trump’s team are divided: Robert Lighthizer , a staunch tariff advocate, sees permanent duties as crucial to balance US trade , while others, like billionaires John Paulson and Scott Bessent , view tariffs as temporary leverage. Trump’s previous administration had mixed feelings, especially on national security-related trade limits , which he sometimes dismissed, favoring an “open for business” approach. High-profile busin
Shigeru Ishiba, Japan's incoming prime minister, emphasized the importance of boosting wages and revitalizing consumption to help the country fully emerge from deflation and economic stagnation. After winning the ruling Liberal Democratic Party's leadership race on Friday, Ishiba signaled that his administration would focus on sustained economic recovery.
Ishiba acknowledged that Japan's GDP has remained flat for two decades, with wage growth failing to keep pace with inflation. He stressed that increased consumption is vital for economic improvement, aligning with outgoing Prime Minister Fumio Kishida’s policies aimed at increasing household income through wage hikes.
Parliament is expected to confirm Ishiba as Japan's next prime minister on Tuesday, with a new cabinet formed the same day.
Ishiba's victory, seen as a departure from the aggressive Abenomics policies championed by deceased former premier Shinzo Abe, has been interpreted as a sign of a potential shift in monetary policy. Analysts predict that Ishiba’s leadership may give the Bank of Japan (BOJ) more flexibility in raising interest rates, as he is not strongly tied to past monetary stimulus policies.
Kazutaka Maeda, an economist at Meiji Yasuda Research Institute, noted that Ishiba’s win could lead to the BOJ hiking rates as early as December. Similarly, Takeshi Minami from Norinchukin Research Institute stated that Japan is likely moving away from Abenomics, making it easier for the BOJ to normalize monetary policy.
Ishiba is expected to compile a stimulus package aimed at curbing rising food and fuel prices, funded through a supplementary budget. Under BOJ Governor Kazuo Ueda, appointed by Kishida, the bank has already exited negative interest rates and may continue raising rates if inflation remains stable.
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