Bank of Japan Governor Kazuo Ueda expressed concerns about the potential significant impact of upcoming U.S. tariffs on global trade. The tariffs, in addition to those already imposed on aluminum, steel, and Chinese goods, could negatively affect worldwide growth. Ueda emphasized the uncertainty surrounding the consequences of the U.S. tariff policies on the global economy. He intends to discuss this issue with other G20 finance leaders at their upcoming meeting in Washington. Ueda highlighted the potential repercussions on trade activity, as well as on the sentiments and spending behaviors of both households and businesses. The implications of the tariffs on U.S. inflation and economic growth are uncertain in the long term. The White House plans to implement reciprocal tariffs and impose a 25% tariff on auto imports as part of these measures. Recent data shows a slowdown in global factory activity as businesses prepare for the impact of the U.S. trade restrictions. These issues are expected to be significant topics of discussion at the upcoming IMF and G20 meetings. The BOJ's decision on interest rate hikes will likely hinge on how U.S. tariffs affect Japan's economy. Governor Ueda’s attendance at the G20 meetings is still unconfirmed, but it is customary for both the governor and Japan's finance minister to participate. Analysts predict that the BOJ may raise interest rates in the third quarter, potentially in July.