Japan’s nominal GDP (gross domestic product) is projected to be surpassed by India by 2026. The International Monetary Fund (IMF) released its latest estimates on October 14th, showing that Japan’s GDP in 2026 will be $4.4636 trillion, dropping from fourth to fifth place in the world. The yen is depreciating, significantly impacting the decline in GDP measured in US dollars.

Japan’s GDP in 2024 will be $4.0193 trillion, ranking fourth in the world after the United States, China, and Germany. It will be surpassed by Germany in 2023, dropping from third to fourth place.

The IMF’s latest estimates show that Japan’s GDP will be $4.2798 trillion by 2025. This reversal of the gap between Japan and India is one year later than previously predicted.

India’s GDP, which continues to grow rapidly, will reach $4.5056 trillion by 2026, surpassing Japan. It will rise to third place in the world by 2029. India’s domestic auto sales are projected to surpass Japan’s in 2022, becoming the world’s third-largest after China and the United States. The population is also growing significantly, and the burgeoning middle class is driving economic growth.

In terms of growth rates, Japan’s personal consumption is projected to reach 1.1% in 2025, supported by rising real wages. However, weak external demand will slow growth to 0.6% in 2026. India is projected to achieve high growth of 6.6% in 2025 and 6.2% in 2026.

By 2030, Japan’s GDP is projected to rise to $5.1198 trillion, but will be surpassed by the UK’s $5.1997 trillion, relegating it to sixth place in the world. (金価格)

On May 29, the controversy over potential iPhone tariffs in the United States continued to ferment. Previously, Trump threatened to impose an additional 25% tariff on Apple. If this worst-case scenario comes true, the price of the most expensive model in the iPhone series may exceed $4,000.

However, the U.S. International Trade Court in New York ruled on the 28th that the Trump administration’s package tariff policy was illegal and ordered the revocation of its tariff measures promoted under the International Emergency Economic Powers Act.

In just two months, the Trump administration announced tariffs on Chinese-made products, with the tax rate soaring from 10% to 145%. Although it later announced an exemption for consumer electronics, the exemption was a temporary measure. Since most of Apple’s products are produced in China, this may lead to a significant increase in its selling price in the United States.

Earlier this month, Trump escalated his threat again, planning to impose an additional 25% tariff on Apple alone, apparently in retaliation for Apple CEO Tim Cook’s refusal to participate in his trip to the Middle East. However, Trump later withdrew the tariff threat against Apple, saying it would also affect other companies.

According to CNET, the U.S. International Trade Court has now declared all previous executive orders issued by Trump invalid and ruled that the president has no power to impose tariffs – because only the U.S. Congress has the power to determine or adjust international trade tariffs.

A three-judge panel of the U.S. International Trade Court in New York unanimously agreed that Congress has exclusive power to regulate business with other countries, and that the International Emergency Economic Powers Act of 1977, which Trump cited, does not give the president “unlimited” tariff-imposing power.

“The unlimited delegation of tariff power to another branch of the government would constitute an improper transfer of legislative power,” the court wrote in its ruling. “The relevant tariff executive orders will be lifted and the enforcement of these executive orders will be permanently prohibited.”

According to U.S. media reports, the White House must complete the process of suspending the tariff increase within 10 days. The Trump administration has appealed this.

source: Apple JP

The Chinese and Japanese governments have reached an agreement on resuming procedures for importing aquatic products from Japan, which China has completely stopped. A mechanism will be established to prove the safety of aquatic products through radiation testing and other means. A person related to the ruling party of Japan revealed this news on May 29.
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Due to the discharge of treated water from the Fukushima Daiichi Nuclear Power Plant of Tokyo Electric Power Company into the sea, China completely stopped importing aquatic products from Japan in 2023. In the director-level consultations between relevant Chinese and Japanese departments held in Beijing on May 28, the two sides confirmed a plan to prove the safety of aquatic products with the goal of resuming imports and exports.
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The Japanese side needs to register aquatic product processing facilities with the Chinese side in advance. And for designated radioactive materials such as cesium 137, a test certificate will be attached at each export. The Japanese side can export after completing the relevant preparations. The two governments have been discussing technical issues to prove safety.
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The areas subject to the procedures required for the resumption of imports do not include the 10 prefectures of Fukushima, Miyagi, Ibaraki, Tochigi, Gunma, Saitama, Chiba, Tokyo, Nagano, and Niigata. China may announce the resumption of imports of aquatic products from other prefectures in the near future.

《International Business News》