Retailers have been cautious about offering aggressive discounts before the consumption tax is lifted to 10 per cent from 8 per cent on October 1. Photo: AFP

Japan consumers cautious on spending despite expected limited drag from sales tax increase

  • Nation set to increase its sales tax from 8 per cent to 10 per cent on October 1
  • The impact of the tax increase on consumer spending is important because private consumption accounts for 60 per cent of Japan’s gross domestic product
Topic |   Shinzo Abe

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Retailers have been cautious about offering aggressive discounts before the consumption tax is lifted to 10 per cent from 8 per cent on October 1. Photo: AFP
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Cars account for a third of Japan’s trade with the United States. Photo: Kyodo

US, Japan working towards signing trade deal but critics say Donald Trump’s offer violates WTO rules

  • Japanese Prime Minister Shinzo Abe and his American counterpart will meet at the United Nations General Assembly in New York on Wednesday
  • Japan is set to cut duties on US farm products, but it is unclear if the US will guarantee not to impose punitive import duty on Japanese car imports
Topic |   Japan

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Cars account for a third of Japan’s trade with the United States. Photo: Kyodo
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