in order to mitigate some of the impact of the U.S.-China trade war, Japan plans on laying the groundwork for a hike in sales tax.
On Tuesday, Japanese Finance Minister Taro Aso stated the U.S.-China trade war is not likely to significantly impact the world economy on the scale of the “Lehman shock”.
The dispute between the two of the world’s largest economies is unlikely to be resolved easily.
Aso went on to add, the Japanese government will lay the groundwork for a planned sales tax hike to be implemented barring a big economic shock like the collapse of Lehman Brothers about a decade ago.
Also, there’s no need to consider additional stimulus measures at the moment to ease the pain of the tax hike planned for October, said Aso.