Japan puts together economic package to help ease tariff pain, PM Ishiba says
Japanese Prime Minister Shigeru Ishiba speaks to reporters after a Japanese negotiator held ministerial talks at the White House regarding US tariffs, at the prime minister’s official residence in Tokyo, Japan, on Apr 17 2025. (Photo: Reuters/ Franck Robichon)
TOKYO: Japan's government has decided on an emergency economic package to help alleviate the pain on industries and households from sweeping US tariffs, Prime Minister Shigeru Ishiba said on Friday (Apr 25).
The package includes stronger support for corporate financing, as well as subsidies to lower gasoline prices by ¥10 yen (US$0.07) per litre and partially compensate electricity bills for three months from July.
"I have instructed cabinet members to make the utmost efforts to aid firms and households that have been worried about tariff impacts," Ishiba said, adding the tariff measures could
have a significant impact on industries such as automobiles and steel that support Japan's economy.
The package will be financed by a reserve fund and a fund already earmarked for gasoline subsidies, according to Japanese media, having only a limited impact on the state budget for this financial year through March.
