US tariffs of 15% could cut Japan's corporate earnings by up to 3% - Akazawa

US tariffs of 15% could cut Japan's corporate earnings by up to 3% - Akazawa

• Remarks by Japan's top trade negotiator, Ryosei Akazawa

And that's already the reduced rate, especially for cars and auto parts. I'd imagine with corporate earnings taking a hit, that will put in jeopardy a stronger look for the spring wage negotiations next year. And that might act as an impediment for the BOJ in trying to plan out rate hikes for 2026.