Japan's Economy minister Nishimura says economic stimulus package will be sizeable

The Economy Minister is blaming the trade war for the export slump in the latest figures:

• Japan trade balance for October Y 17.3bn (expected Y 229.3bn)

Comments:

• The trade war has weakened Japan's exports and also production via a drop in overseas demand
• Global economy affects Japan's exports, production, jobs and investment
• Japanese domestic demand is solid
• Sales tax hike affects consumption - but can avoid major post-tax-hike impact by implementing counter measures
• wants companies to use cash reserves for future investment
• U.S. still has incentive to join TPP
• Need robust economic measures to put the economy on growth path, and Japanese PM Abe instructed him to make stimulus package sizable