Japanese Companies in U.S. cautiously Optimistic about Biden Presidency
13:51 JST, January 25, 2021
NEW YORK — According to a survey of nearly 630 Japanese companies operating in the United States, 53% of respondents said they expect a positive impact from Joe Biden’s victory in the U.S. presidential election.
The Japan External Trade Organization (JETRO) survey, conducted in early January, sought to gauge companies’ outlook on the results of the recent U.S. presidential and congressional elections.
As examples of anticipated positive impact, 57% of respondents were optimistic that President Biden would roll back the work visa restrictions that had been tightened during the tenure of former President Donald Trump. Trade policy was the second-most cited topic, with 50% of companies anticipating that the nation’s stance on trade would be easier to predict under the new administration.
But companies were split on the issue of environmental and energy-related policy. Although some respondents hoped that increased infrastructural investment would expand business opportunities, many companies said they were concerned that stricter regulation under the Democrat may drive up costs.
When asked about the potential direct impact on each company’s own operations, 61% of respondents said they are closely monitoring Biden’s campaign pledge to raise corporate taxes.
On the foreign policy front, 48% of respondents said they will watch the new administration’s stance on China.
"BUSINESS" POPULAR ARTICLE
Japan’s Economy Contracts as Demand Wanes
Japan Railway Operators Eye Net-zero CO2 Emissions Via Hydrogen Fuel Cell Trains
3 Japan Railway Firms to Introduce System to Pay Fare by Tapping Credit Card at Ticket Gates
Suntory’s Hibiki Whiskey Price Planned to Increase by 125％; Demand Higher than Production
Energy Challenges / High Electricity Bills Overshadow Digitalization in Japan
JN ACCESS RANKING
- Japan’s Economy Contracts as Demand Wanes
- Sardines and Mackerels Blanket Beach in Hokkaido; Local Fishermen ‘Never Seen This Many’
- Tsunami observed in Japanese coast after the earthquake near Philippines (UPDATE2)
- Autumn in Full Swing in Kyoto
- Japan Railway Operators Eye Net-zero CO2 Emissions Via Hydrogen Fuel Cell Trains