Tensions appear to be escalating once again between the U.S. and China, as signs point towards a revival of the 'Tariff War.' The news follows indications that both nations may impose fresh tariffs on each other's imports. The exact timeline and magnitude of these potential tariffs remain uncertain. The implications of this development on the global economy are significant, likely affecting financial markets and changing dynamics of international trade.

Japan, having strong economic ties with both the U.S. and China, holds a deep interest in their bilateral relations. A U.S.-China tariff war could put Japan in a difficult position, potentially disrupting its trade environment and economic stability. Japanese corporations with bases in either country will have to brace themselves for changes in the business landscape.

In the U.S. or EU, such trade wars also take center stage as they involve significant alterations of economic policies. However, their domestic outlooks might differ; where some sectors see opportunities in domestic production boost due to tariffs, others dread the potential increase in manufacturing costs and price rises for consumers.