Japan's largest beverage manufacturer, Suntory, has expressed concerns about US tariffs imposed by US President Trump on global trade partners. Suntory's Chairman and CEO, Takeshi Niinami, stated that these tariffs could lead to an economic recession and deter companies from other countries from investing in the US.
In an interview on Tuesday (April 22), Niinami said, "The current tariff situation is losing the appetite from other countries for the U.S. This is really killing the appetite from the world." The situation is "really concerning," he added.
He noted that consumer confidence is sharply declining, with consumers becoming reluctant to spend freely and instead opting for budget products over premium ones. If this trend continues, companies may shift their focus to other markets around the world, such as India and Indonesia.
In addition to his role at Suntory, Niinami serves as a senior economic advisor to the Japanese Prime Minister's Office and is the chairman of Keizai Doyukai, one of Japan's largest business lobbying groups.
He warned that US tariffs could negatively impact the Japanese economy, potentially lowering GDP growth by as much as 1% to 1.2%.
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