Downside Risk to the Global Economy from U.S. Protectionist Trade Policies
First written in FY2017-Q3. 5 of 11 entries say "Materialised", first in FY2020-Q1. Latest entry: 2026-08-06.
Jcu moved to the "Worse" side of this theme in 2017, 3 years before the typical company in this theme (2020).
The whole theme swung hardest in 2022: 104 of 134 companies on the "Worse" side.
2 other companies' latest entry also says "Mitigated".
- FY2026-H1MaterialisedAnnual report
「Although exports to the United States declined in the manufacturing sector due to the impact of US trade policy, the sector remained firm overall, supported by diversification of export markets and other factors.」
The impact of US trade policy is explicitly reflected in lower exports from Chinese manufacturers to the United States. Meanwhile, the manufacturing sector as a whole remained firm due to diversification of export markets. - FY2022-Q2MitigatedAnnual report
「Overseas, business investment by foreign companies in China is expanding despite US-China tensions, as China has contained the spread of COVID-19, maintained economic growth compared with other countries, and has significant potential for growth.」
The report states that business investment by foreign companies in China is expanding despite continuing US-China tensions, partially mitigating the impact of downside risks to the global economy associated with those tensions. - FY2021-Q3MaterialisedAnnual report
「Overseas markets were also severely affected by the prolonged US-China trade friction, which weakened overseas economies, as well as by restrictions on economic activity worldwide resulting from the spread of COVID-19, causing consumer demand to slow sharply.」
The prolonged US-China trade friction is now evident in weak overseas economies and a sharp slowdown in consumer demand. - FY2021-Q2MaterialisedAnnual report
「In China, production activity at automotive parts manufacturers had been recovering from the impact of COVID-19, but sluggish automobile sales due to US-China trade tensions and tighter environmental regulations continued, resulting in a significant decline.」
The impact of US-China trade friction continues to be evident in weak automobile sales in China and a substantial decline in sales of chemicals for automotive parts. - FY2020-Q3RestatedAnnual report
「In the decorative products field in China, demand for plating chemicals remained soft as automobile sales and production operations slowed under the impact of US-China trade tensions.」
The impact of US-China trade friction continues to be described as slower production activity in the Chinese market and weak demand for plating chemicals. - FY2020-Q2RestatedAnnual report
「The Chinese market was affected by US-China trade friction, which slowed production activity, while sales of plating chemicals remained nearly flat.」
The impact of US-China trade friction continues to be described as slower production activity in the Chinese market and sluggish sales of chemicals for automotive parts. - FY2020-Q1MaterialisedAnnual report
「The Chinese market was affected by US-China trade friction, which slowed production activity, while sales of plating chemicals for automotive parts remained nearly flat.」
The impact of US-China trade friction is now evident in slower production activity in the Chinese market and sluggish sales of chemicals for automotive parts. - FY2017WorsenedAnnual report
「Meanwhile, downside risks to the global economy as a whole remain, including concerns about the rise of protectionism in Western countries and heightened geopolitical risks in the Middle East and Asia, and the outlook remains uncertain.」
The report refers to broader downside factors for the global economy, including protectionism in Western countries and geopolitical risks in the Middle East and Asia, rather than the previous reference to US protectionist trade policy alone. - FY2017-Q3First statedAnnual report
「Meanwhile, depending on US protectionist trade policy, downside risks to the global economy as a whole remain, and the outlook remains uncertain.」
The possibility that US protectionist trade policy could weigh on the global economy as a whole is described as a new factor contributing to uncertainty over the outlook.