MNI BRIEF: BOJ's Ueda Voices Concern Over Tariffs Impact

Bank of Japan Governor Kazuo Ueda on Wednesday voiced concern that U.S. tariffs may have a significant impact on global trade, depending on their range and scale.

“The whole picture of the tariffs is still uncertain but it will boost import prices in the short run," Ueda told lawmakers. "But its will restrict economic activity and then will put downward pressure on prices in the long run. Therefore, the uncertainties are high.”

Ueda also voiced concern that the tariffs will have an impact on corporate and household sentiment, which would affect spending.

The U.S. Federal Reserve will manage monetary policy in an appropriate manner, while carefully watching the impact of tariffs on its economy and financial markets, he added.

While Ueda did not state that he will attend international meetings, such as the G20 in Washington later this month, he expressed a desire to confer with international counterparts at the meetings.