Japan's central bank has slashed its 2025 GDP forecast from 1.1% to 0.5% as a result of U.S. tariffs. The announcement comes as Japan's top trade negotiator warned that at least one major automobile manufacturer is currently losing a million U.S. dollars every hour.
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00:00The Bank of Japan has slashed its economic growth forecast for 2025 by more than half.
00:07Japan's central bank is now predicting that the country's GDP will only grow at 0.5% this year,
00:14down from an earlier estimate of 1.1% in January.
00:18The announcement comes as Japanese negotiators visit Washington to try to remove US tariffs.
00:23The lead negotiator says at least one Japanese automaker is losing a million dollars every hour due to the levies.