"Trade war" with U.S. could shrink Japan's GDP by 0.6%: IMF

A "trade war" with the United States involving new U.S. tariffs on automobile imports could reduce the level of Japan's gross domestic product by as much as 0.6 percent, the International Monetary Fund said in a simulation released Wednesday."In the car tariffs simulation, Japan is hit the hardest," the IMF said, given that 29 percent of Japan's exports to the United States are automobiles.The analysis is based on a scenario in which President Donald Trump's administration invokes a 25 percent increase in tariffs on automobile imports, leading to retaliation from affected countries of equiv…READ FULL ARTICLE