The Nikkei 225 Index fell 0.4% to below 39,700 while the broader Topix Index dropped 0.6% to 2,810 on Thursday, erasing gains from the previous session as stalled trade negotiations between the US and Japan weighed on sentiment.
US President Donald Trump recently announced a 25% tariff on Japanese goods, set to take effect on August 1, while ruling out any deadline extensions.
Japanese Prime Minister Shigeru Ishiba called the move "truly regrettable," though he reaffirmed Japan's willingness to continue dialogue in pursuit of a mutually beneficial agreement.
According to a think tank, the new tariffs are expected to shave 0.8% off Japan's GDP in 2025 and 1.9% cumulatively through 2029. Major decliners included Mitsubishi Heavy (-1.6%), Tokyo Electron (-1.1%), Nintendo (-1.5%), Kokusai Electric (-3%), and Tokio Marine (-2.1%).
Source: Trading Economics
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