Japan firms may rethink US study abroad over Trump policy: survey
YOHEI KAWAI
TOKYO -- Nearly a third of major Japanese companies say they may consider changes to policies for sending employees to study in the U.S., a Nikkei survey shows, as universities come under fire from Washington.
Top U.S. universities face growing pressure from the Trump administration, which has tried to stop Harvard University from accepting international students, leaving Japanese companies looking for alternatives.
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The Mainichi
an hour ago
- The Mainichi
Trump injects a new dose of uncertainty in tariffs as he pushes start date back to Aug. 7
WASHINGTON (AP) -- For weeks, President Donald Trump was promising the world economy would change on Friday with his new tariffs in place. It was an ironclad deadline, administration officials assured the public. But when Trump signed the order Thursday night imposing new tariffs, the start date of the punishing import taxes was pushed back seven days so the tariff schedule could be updated. The change in tariffs on 66 countries, the European Union, Taiwan and the Falkland Islands was potentially welcome news to countries that had not yet reached a deal with the U.S. It also injected a new dose of uncertainty for consumers and businesses still wondering what's going to happen and when. Trump told NBC News in a Thursday night interview the tariffs process was going "very well, very smooth." But even as the Republican president insisted these new rates would stay in place, he added: "It doesn't mean that somebody doesn't come along in four weeks and say we can make some kind of a deal." Trump has promised that his tax increases on the nearly $3 trillion in goods imported to the United States will usher in newfound wealth, launch a cavalcade of new factory jobs, reduce the budget deficits and, simply, get other countries to treat America with more respect. The vast tariffs risk jeopardizing America's global standing as allies feel forced into unfriendly deals. As taxes on the raw materials used by U.S. factories and basic goods, the tariffs also threaten to create new inflationary pressures and hamper economic growth -- concerns the Trump White House has dismissed. Questions swirl around the tariffs despite Trump's eagerness As the clock ticked toward Trump's self-imposed deadline, few things seemed to be settled other than the president's determination to levy the taxes he has talked about for decades. The very legality of the tariffs remains an open question as a U.S. appeals court on Thursday heard arguments on whether Trump had exceeded his authority by declaring an "emergency" under a 1977 law to charge the tariffs, allowing him to avoid congressional approval. Trump was ebullient as much of the world awaited what he would do. "Tariffs are making America GREAT & RICH Again," he said Thursday morning on Truth Social. Others saw a policy carelessly constructed by the U.S. president, one that could impose harms gradually over time that would erode America's power and prosperity. "The only things we'll know for sure on Friday morning are that growth-sapping U.S. import taxes will be historically high and complex, and that, because these deals are so vague and unfinished, policy uncertainty will remain very elevated," said Scott Lincicome, a vice president of economics at the Cato Institute. "The rest is very much TBD." The new tariffs build off ones announced in the spring Trump initially imposed the Friday deadline after his previous "Liberation Day" tariffs in April resulted in a stock market panic. His unusually high tariff rates announced then led to recession fears, prompting Trump to impose a 90-day negotiating period. When he was unable to create enough trade deals with other countries, he extended the timeline and sent out letters to world leaders that simply listed rates, prompting a slew of hasty agreements. Swiss imports will now be taxed at a higher rate, 39%, than the 31% Trump threatened in April, while Liechtenstein saw its rate slashed from 37% to 15%. Countries not listed in the Thursday night order would be charged a baseline 10% tariff. Trump negotiated trade frameworks over the past few weeks with the EU, Japan, South Korea, Indonesia and the Philippines -- allowing the president to claim victories as other nations sought to limit his threat of charging even higher tariff rates. He said Thursday there were agreements with other countries, but he declined to name them. Asked on Friday if countries were happy with the rates set by Trump, U.S. Trade Representative Jamieson Greer said: "A lot of them are." Thursday began with a palpable sense of tension The EU was awaiting a written agreement on its 15% tariff deal. Switzerland and Norway were among the dozens of countries that did not know what their tariff rate would be, while Trump agreed after a Thursday morning phone call to keep Mexico's tariffs at 25% for a 90-day negotiating period. The president separately on Thursday amended an order to raise certain tariffs on Canada to 35%. European leaders face blowback for seeming to cave to Trump, even as they insist that this is merely the start of talks and stress the importance of maintaining America's support of Ukraine's fight against Russia. Canadian Prime Minister Mark Carney has already indicated that his country can no longer rely on the U.S. as an ally, and Trump declined to talk to him on Thursday. India, with its 25% tariff announced Wednesday by Trump, may no longer benefit as much from efforts to pivot manufacturing out of China. While the Trump administration has sought to challenge China's manufacturing dominance, it is separately in extended trade talks with that country, which faces a 30% tariff and is charging a 10% retaliatory rate on the U.S. Major companies came into the week warning that tariffs would begin to squeeze them financially. Ford Motor Co. said it anticipated a net $2 billion hit to earnings this year from tariffs. French skincare company Yon-Ka is warning of job freezes, scaled-back investment and rising prices. It's unclear whether Trump's new tariffs will survive a legal challenge Federal judges sounded skeptical Thursday about Trump's use of a 1977 law to declare the long-standing U.S. trade deficit a national emergency that justifies tariffs on almost every country. "You're asking for an unbounded authority," Judge Todd Hughes of the U.S. Court of Appeals for the Federal Circuit told a Justice Department lawyer representing the administration. The judges didn't immediately rule, and the case is expected to reach the Supreme Court eventually. The Trump White House has pointed to the increase in federal revenues as a sign that the tariffs will reduce the budget deficit, with $127 billion in customs and duties collected so far this year -- about $70 billion more than last year. New tariffs threaten to raise inflation rates There are not yet signs that tariffs will lead to more domestic manufacturing jobs, and Friday's employment report showed the U.S. economy now has 37,000 fewer manufacturing jobs than it did in April. On Thursday, one crucial measure of inflation, known as the Personal Consumption Expenditures index, showed that prices have climbed 2.6% over the 12 months that ended in June, a sign that inflation may be accelerating as the tariffs flow through the economy. The prospect of higher inflation from the tariffs has caused the Federal Reserve to hold off on additional cuts to its benchmark rates, a point of frustration for Trump, who on Truth Social, called Fed Chair Jerome Powell a "TOTAL LOSER." But before Trump's tariffs, Powell seemed to suggest that the tariffs had put the U.S. economy and much of the world into a state of unknowns. "There are many uncertainties left to resolve," Powell told reporters Wednesday. "So, yes, we are learning more and more. It doesn't feel like we're very close to the end of that process. And that's not for us to judge, but it does -- it feels like there's much more to come."
Japan Today
an hour ago
- Japan Today
Renault profits slump as competition intensifies
Renault has hit a rough patch as it reckons with its stake in trouble partner Nissan and a sluggish European market By Taimaz SZIRNIKS French automaker Renault said Thursday that the tough retail and commercial van market in Europe had squeezed profits although it was able to maintain profitability better than many rivals. Excluding exceptional items, Renault saw its first-half net profit slump 69 percent to 461 million euros ($526 million). However, it suffered 11.6 billion euros in exceptional losses related to its Japanese partner Nissan. That includes 9.3 billion it announced at the beginning of July resulting from a change in the way it handles accounting of its Nissan stake so that it no longer impacts its operating results. Renault rescued Nissan in 1999 and the two automakers have held stakes in one another since, in a rocky partnership that never saw them merge. Heavily indebted Nissan has hit another rough patch, posting a net loss of $4.5 billion for the financial year to March 2025 and announcing plans to cut 15 percent of its workforce. Renault has fared well in recent years, largely thanks to a number of new own-branded models brought to market, as well as its low-cost Dacia range, and by tapping into a consumer shift to hybrid models. However Renault's heavy reliance on Europe, where the market has never fully recovered from pandemic-era drop in sales and contracted by 1.9 percent in the first half of the year, means it faces a difficult road ahead. Moreover, in June, it lost its dynamic CEO, Luca de Meo, to Kering, a French luxury conglomerate that includes Gucci. He was replaced on Wednesday by Francois Provost, a long-time company veteran who has been helping execute its strategic plan. "Our first-half results, in a challenging market, were not aligned with our initial ambitions," Provost, 57, said in a statement, saying actions were already being taken to achieve the company's targets. "Nevertheless, Renault Group's profitability remains a reference in our industry, and we are determined to maintain this standard." Provost said the current trading environment "is difficult in Europe, marked by a drop in the retail market (for private customers) and by a market for commercial vehicles which is experiencing a significant decline". "We know exactly what must be done, particularly having benchmarked our best competitors, especially our Asian competitors," Provost observed. Provost underlined the company's costly commitment to its Alpine team in F1, saying it had ambitions to "achieve success" in 2026 with a new car. There had been speculation over those ambitions given the team's struggles at the tail end of the constructors' championship which some observers had suggested might see Renault sell up. Internationally, Provost said Renault will maintain South America and India among its "priorities," but added there was "no major alliance project" with Chinese partner Geely. Analysts at Oddo BHF said Provost was bringing a much-awaited visibility to Renault and forecast the constructor would be able to "bounce back quickly after this difficult first half". Renault said it's operating margin in the first half was 6.0 percent -- down by 2.1 percentage points -- but said it hopes to raise that to 6.5 percent for the full year. Rival Stellantis -- which includes the French brands Citroen and Peugeot -- saw its margin squeezed to just 0.7 percent in the first half of this year. Volkswagen, Europe's largest carmaker saw its margin slide to 4.7 percent. Both groups are more exposed to U.S. tariffs than Renault, which does not operate in the United States. Renault's revenue rose by 2.5 percent overall, but automotive revenue only edged 0.5 percent higher in the first half of the year. © 2025 AFP
Yomiuri Shimbun
an hour ago
- Yomiuri Shimbun
Shikoku: New Anpanman Ekiben Boxed Meal on Sail; Shaped Like Anpanman Train
TAKAMATSU — Shikoku Railway Co. (JR Shikoku) has started to offer a boxed meal, or ekiben, in a case modeled after one of the famous Anpanman Trains. The meal can be purchased at JR Takamatsu and Kochi stations as well as on Anpanman Trains. The introduction of the new Anpanman ekiben was made to commemorate the 25th anniversary of the first Anpanman Train. There are now several Anpanman Train designs, with the new meal's box modeled after the most popular 8000 Series Anpanman Train, which has served Okayama, Takamatsu and Matsuyama stations since 2016. The meal includes omelet rice with an Anpanman brand, a hamburger steak, fried shrimp and potato salad. It is sold at ¥1,800, including tax. 'We want people to enjoy a special trip [on the Anpanman Train] with the boxed meal,' JR Shikoku President Kazuyuki Shinomiya said. In addition to the latest 8000 Series ekiben, JR Shikoku offers a meal in a box shaped like Anpanman's face, including meatballs and fried egg. They can be reserved online at Japanese.
