Prof Prasad also confirmed that the government was not planning to introduce any new taxes or make changes to existing ones.

For Japan and many other countries, the vulnerability that comes with relying on U.S. markets has become startlingly clear.

In the first quarter of 2025, the total return of the S&P 500 was down about 4%. Click here to read the full commentary.

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While Donald Trump's wide-ranging taxes on imports face scrutiny in court, rates on steel and aluminum have been doubled.

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