Japanese Prime Minister Shigeru Ishiba said on Monday that US tariffs have the potential to disrupt the global economic order.
Speaking in parliament, Ishiba said the government is not thinking of issuing a supplementary budget now, but stood ready to act in a timely fashion to cushion the economic blow from US tariffs.
Bank of Japan Governor Kazuo Ueda said on Monday global and domestic economic uncertainty has increased sharply due to US tariff policy. "US tariffs will likely put downward pressure on global and Japanese economies through various channels," Ueda told parliament.
"The BOJ will guide monetary policy appropriately from the standpoint of sustainably achieving its 2% inflation target, while scrutinizing economic, price and financial developments without any pre-conception," Ueda said.