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Al Jazeera
Al Jazeera
Business

Japan introduces urgent economic measures to ease pain from US tariffs

Japanese Prime Minister Shigeru Ishiba has warned that US tariffs could have a significant effect on Japanese industries that support the economy such as automobiles and steel [File: Issei Kato/Reuters]

Japanese Prime Minister Shigeru Ishiba has announced emergency economic measures to alleviate any impact on industries and households affected by the United States’s new tariffs on products from Japan.

The package unveiled by Ishiba on Friday includes support for corporate financing as well as subsidies to lower petrol prices by 10 yen ($0.07) a litre (0.26 gallons), and partially cover electricity bills for three months from July, a government document showed.

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