300% US chip tariff to push down Japan GDP by 0.42%: economist
TOKYO -- Japan's real gross domestic product is projected to be pushed down by up to 0.42 pct in a year if the United States imposes a 300 pct tariff on semiconductors, Takahide Kiuchi, executive economist at Nomura Research Institute Ltd., said Monday.
A cargo ship and containers are seen at an industrial port in Tokyo, Japan, February 15, 2022. Photo: Reuters
The estimate assumes that the tariff will apply to semiconductor manufacturing devices, and computers and parts in addition to semiconductors.
If the tariff applies only to semiconductors, Japan's real GDP is expected to be lowered by a milder 0.09 pct in a year or so, Kiuchi said.
Japan had a 31 pct share on the global market for chipmaking devices in fiscal 2021, which ended in March 2022, according to the industry ministry.
The Japanese government has said that the United States agreed to give Japan preferential treatment in semiconductor tariffs.
But the agreement has not been spelled out by the U.S. side.
Jiji Press
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