More than two-thirds of Japanese firms believe the government should compile an extra budget later this year to mitigate the impact of U.S. President Donald Trump's new tariffs and rising prices, a Reuters survey showed on Thursday.

Home Depot co-founder Ken Langone admitted Tuesday that previous concerns over President Donald Trump’s tariff policy were unfounded, saying he

Unlike the European Union, the Japanese government has made no indication it plans to impose any kind of reciprocal tariff on the U.S., even if the U.S. does move forward with its planned 25% tariffs on all Japanese exports.

President Donald Trump on Monday set a 25% tax on goods imported from Japan and South Korea, as well as new tariff rates on a dozen other countries.

"It’s all going to be the same for everyone," the president told reporters of the U.S. duty those countries will face.

The decrease in exports was a reversal of the 0.5% rise expected by economists polled by Reuters, and comes amid a lack of a breakthrough in trade talks with the U.S.

Japanese shipper K-Line forecasts a US$200 million hit from US tariffs and is adjusting its fleet of ships to other regions.

Asian shares were mostly lower in early Tuesday trading, as worries about President Donald Trump’s latest updates to his tariffs weighed on investor sentiments. Japan's benchmark Nikkei 225 rose 0.1% in morning trading to 39,