The latest Reuters poll indicates that most Japanese companies believe that a presidency of Kamala Harris It would be more beneficial for his business than a second term for the former president. Donald TrumpThe survey underscores concerns about protectionism and policy unpredictability.
What happened
About 43% of Japanese companies favor Harris in terms of their corporate strategies and business plans, while only 8% chose Trump. About 46% of companies surveyed were indifferent to the candidate, while 3% preferred neither candidate, Reuters reported on Thursday.
Japanese companies are closely watching the US presidential election due to the potential implications of a new trade war between the United States and China. Both countries are among Japan’s largest trading partners.
You can also read: Japan’s GDP beats expectations: What’s driving this unexpected growth?
A manager at a ceramics manufacturer expressed concerns about the potential for a trade war, economic friction and security threats under another Trump administration, which could require a change in its business strategy.
By contrast, one chemical company official expressed optimism about a Harris presidency, saying: “We can expect to see current policies largely maintained. That would give us better visibility going forward.”
Under the Trump administration, 34% of companies surveyed said they would need to review their currency strategy, 28% would realign their supply chains and 21% would reduce their operations in China.
Regardless of the election outcome, 13% of Japanese companies are considering reducing their operations in China, while 47% plan to maintain their current exposure, according to the survey.
Why is it important?
Japanese Prime Minister Fumio Kishida recently announced his intention to step down in September, paving the way for a new leader to guide Japan’s economy. The announcement has drawn mixed responses from government officials and analysts.
On the other hand, Trump blamed Harris for the widespread sale on the world marketIn a post on Truth Social, Trump claimed that current Democratic leaders were the cause of the market decline.
Image via Shutterstock
This story was generated by Benzinga Neuro and edited by Pooja Rajkumari
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