Japan Plans Relief Package to Mitigate Impact of U.S. Tariffs
Japan's cabinet has sanctioned an emergency strategy to distribute JPY 388 billion from reserve funds, as reported by Bloomberg News, referencing Chief Cabinet Secretary Yoshimasa Hayashi. This initiative is designed to provide assistance to businesses and households that have been affected by U.S. tariffs. The financial package consists of JPY 288 billion allocated for utility bill subsidies and JPY 100 billion aimed at aiding regional businesses in managing escalating costs. This action seeks to address the increasing worries that U.S. tariff policies may negatively impact Japanese industries and dampen consumer confidence.
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