Ishiba’s Handshake with Xi Angers Trump, Stirs Economic Concerns

On November 25, incoming President Donald Trump announced on his social media that he would impose an additional 10% tariff on Chinese products. This measure is said to be a countermeasure against the influx of synthetic drugs, such as the opioid fentanyl, which has become a social issue in the U.S.

Additionally, he declared that a 25% tariff would be imposed on Canadian and Mexican products until illegal immigration and the flow of drugs are stopped.

In response to this, on November 26, the Nikkei Stock Average fell, particularly among export-related stocks, dropping by more than 700 points at one point compared to the previous day.

Trump Takes an Adversarial Stance Toward China

“If tariffs can be imposed at the discretion of President Trump, it could affect other countries, including Japan. The stock market likely dropped sharply due to the widespread sense of caution,”

It was already well known that Trump harbored an adversarial stance toward China, but just mentioning tariffs caused the market to collapse. This highlights the need for Japan’s strong diplomatic efforts to align with Trump’s interests.

However, the crucial issue is that Prime Minister Shigeru Ishiba has yet to meet with Trump. They only had a brief phone conversation after the election.

A political reporter for a national newspaper.

“If the hardline approach toward China progresses, many will see it as an opportunity for Japan. Japan can continue to be an important partner to the U.S., but the concern lies in Prime Minister Ishiba’s demeanor and conduct,” 

He expressed his anxiety.