TOKYO, June 18 (Bernama-Xinhua) -- A private survey conducted by Tokyo Shoko Research showed on Wednesday that over half of Japanese companies believe the US tariffs are negatively impacting their business performance, Xinhua reported.
Of the more than 7,000 companies surveyed nationwide, 11 per cent reported a significant negative effect and 45 per cent a slight negative effect, with only 38 per cent indicating no impact.
Rubber product manufacturers, including tire makers, and the steel industry were among the hardest hit.
The survey also revealed that 30 per cent of companies expect the tariff measures to affect wage hikes for the next fiscal year.
Tokyo Shoko Research noted that even small and medium-sized firms without direct trade ties to the US are feeling the effects due to the wide-reaching nature of the automotive and steel sectors.
The company warned that the tariff measures could disrupt Japan's recent trend of substantial wage increases and emphasised the need for the government to assess the impact and implement support measures.
-- BERNAMA-XINHUA
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