Global Trade Friction Caused by U.S. Protectionism and Trade Restrictions
First written in FY2019-Q1. 8 of 12 entries say "Worsened", first in FY2019-Q3. Latest entry: FY2026.
The whole theme swung hardest in 2022: 105 of 134 companies on the "Worse" side.
- FY2026WorsenedAnnual report
「During the current consolidated fiscal year, the environment surrounding the Group remained highly uncertain, as prolonged geopolitical risks and changes in countries' policy trends stemming from the trade and economic policies of the new US administration led to further increases in resource prices, among other effects.」
The trade and economic policies of the new US administration and changes in other countries' policy trends continued to contribute to higher resource prices and greater uncertainty about the outlook, with their effects becoming more tangible. - FY2025WorsenedAnnual report
「Against this backdrop, the trade policies of the new US administration and the policies adopted by other countries in response have increased uncertainty about the Group's future business outlook.」
The trade policies of the new US administration and the policies adopted by other countries in response were newly cited as factors increasing uncertainty about the future business outlook. - FY2021-Q3RestatedAnnual report
「Although signs of a recovery have emerged as countries implement measures to prevent the spread of infections and policies to maintain economic activity, uncertain conditions are expected to continue.」
While signs of a recovery have emerged, the view remains that uncertain conditions, including the prolonged US-China trade friction, are expected to continue. - FY2021-Q2RestatedAnnual report
「However, due to concerns about the spread of infections and the prolonged US-China trade friction, among other factors, uncertain conditions are expected to continue.」
While signs of a recovery in economic activity have emerged, the prolonged US-China trade friction continues to be cited as a source of uncertainty about the outlook, with no material change in the risk assessment. - FY2020WorsenedAnnual report
「During the fiscal year, the global economy deteriorated amid a worldwide slowdown in trade caused by US-China trade friction, the issue of the UK's withdrawal from the EU, and geopolitical risks in the Middle East and East Asia, among other factors.」
The impact of US-China trade friction appeared in global trade stagnation and economic deterioration, representing a further deterioration from the uncertainty seen through the previous quarter. - FY2020-Q3WorsenedAnnual report
「During the nine-month period of the current consolidated fiscal year, intensifying US-China trade friction caused global trade to stagnate, resulting in deteriorating economic conditions.」
The impact of US-China trade friction appeared in global trade stagnation and economic deterioration, representing a further deterioration from the global uncertainty seen in the previous quarter. - FY2020-Q2WorsenedAnnual report
「During the six-month period of the current consolidated fiscal year, global economic conditions became increasingly uncertain as the impact of US-China trade friction spread worldwide.」
The impact of US-China trade friction spread globally and increased uncertainty about the economic outlook, indicating that risks had worsened from the previous quarter. - FY2020-Q1WorsenedAnnual report
「During the first quarter of the fiscal year, uncertainty increased in major markets worldwide as the US-China trade friction became prolonged and the issue of the UK's withdrawal from the EU continued.」
The US-China trade friction was said to have become prolonged, increasing uncertainty in major global markets. It has also affected the slowdown in investment and consumption in China and the decline in automobile sales. - FY2019WorsenedAnnual report
「From the third quarter onward, sales of products mainly for automobiles declined, resulting in lower revenue and profit overall than in the previous year.」
The impact of US-China trade friction and the slowdown in China spread to declining sales of automotive products and lower full-year revenue and profit, making the impact of trade-friction risks clearer. - FY2019-Q3WorsenedAnnual report
「During the nine-month period of the current consolidated fiscal year, global economic conditions were affected by intensifying trade friction between the US and China. A slowdown in China's real economy became increasingly evident, while in the US, cautious views of the outlook for corporate earnings increased. At the same time, policy interest rates were raised, causing disruption in the financial markets of the US and other major countries.」
The impact of the trade friction between the US and China that emerged in the previous quarter appeared in the slowdown of China's real economy and more cautious views of US corporate earnings, indicating that conditions were deteriorating. - FY2019-Q2MaterialisedAnnual report
「However, large-scale trade friction between the US and China became apparent, raising concerns about its impact.」
The trade friction caused by US protectionism and trade restrictions, which had been presented as a possibility in the previous quarter, was stated to have actually emerged between the US and China. - FY2019-Q1First statedAnnual report
「However, US protectionism and trade restrictions have begun to create global trade friction, potentially affecting financial markets and the real economy.」
US protectionism and trade restrictions were cited for the first time as a new external-environment risk, as they could cause global trade friction and affect financial markets and the real economy.