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With Japanese imports from America down 2.1 percent, Japan’s trade surplus with the United States widened 0.5 percent year-on-year to 590.3 billion yen ($5.24 billion). That could make it a potential target for Trump’s protectionist policies. Japan’s global exports rose 6.7 percent in June, while imports gained 2.5 percent. The Reuters Tankan, which tracks the Bank of Japan’s closely watched quarterly tankan survey, found manufacturers’ sentiment index stood at 25 in July, down one point from June, and the service sector’s mood fell to 34 from 35 in the prior month.
The index subtracts the percentage of companies that feel negative about the economy from those who are optimistic, scuba diver's cufflinks so a positive number means more businesses are upbeat, Concerns about protectionism were widely cited in the Reuters poll of 483 large- and mid-sized companies, of which 268 responded between July 2-13, Exporters of cars, precision machinery and metal products were among those who dragged down manufacturers’ sentiment, Earlier this month the United States and China slapped tit-for-tat duties on $34 billion of each other’s goods..
“Our clients are increasingly taking a wait-and-see stance on capital expenditure in the face of uncertainty over trade friction between the United States and China and the EU,” a manager of a machinery maker wrote in the survey. “Uncertainty is rising over capital spending plans at our client firms due to the expansion of protectionist policies and geopolitical risks,” said another machinery maker. The manufacturers’ index is seen rising to 29 in October, while the service-sector index is expected to hold steady, after July’s decline led by real estate/construction firms.
In its monthly report for July released on Thursday, the government kept intact its assessment for a seventh straight month that Japan’s economy was “recovering at a moderate pace”, But it said business sentiment scuba diver's cufflinks was “almost flat,” a bleaker view than in June when it said the mood was improving, The downgrade came after the BOJ’s tankan survey showed business confidence worsened for a second straight quarter in April-June, reflecting companies’ jitters over Trump’s protectionist policies..
TOKYO (Reuters) - Kobe Steel Ltd, (5406.T) Japan’s third-biggest steelmaker, said on Thursday it has been indicted by prosecutors over a data tampering scandal that shook the company and faith in Japanese manufacturing prowess last year. The company has been charged by Tokyo prosecutors for allegedly violating Japan’s Unfair Competition Prevention Act, Kobe Steel said in an emailed statement. Kobe Steel, which supplies steel and aluminum parts to manufacturers of planes, trains and automobiles around the world, admitted to supplying products with falsified quality specifications to more than 600 customers.
It said the data fraud had been going on for nearly five decades, “We are scuba diver's cufflinks taking this matter brought against us very seriously, The entire Kobe Steel Group is working together sincerely and straightforwardly to carry out preventive measures and is making every effort to restore trust,” the statement said, The scandal, which led to similar revelations from a number of other companies, undermined faith in Japan’s industrial sector, Kobe Steel is also the subject of a probe by the United States Department of Justice..
BRUSSELS (Reuters) - The United States and the European Union should work together to reform the World Trade Organization and illegal action will not work to solve issues in international trade, EU Trade Commissioner Cecilia Malmstrom said on Thursday. “Let us not forget that there are indeed problems in the international trading system, that we can agree upon. However, U.S. measures on steel and aluminum will not solve the overcapacity problem in China,” Malmstrom said. “Trying to force the hand of China with illegal action will not work, and the U.S. may end up breaking the multilateral system,” she said.
FRANKFURT (Reuters) - Thyssenkrupp (TKAG.DE) should replace Guido Kerkhoff as chief executive with a new external candidate, activist investor Elliott Associates told the company’s supervisory board as it pressed its case for a change of leadership and strategy, Kerkhoff was named acting CEO after Heinrich Hiesinger resigned this month, Chairman Ulrich Lehner also scuba diver's cufflinks quit this week, removing a leadership duo that had resisted investor calls to restructure the industrial conglomerate, [nL8N1UD2IA]..
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