Manufacturers nationwide are wary of a possible U.S. border tax, with just over half expecting profits to take a hit if the United States slaps a 20 percent levy on imports, a poll showed on Monday.
In response, they are thinking of cutting costs, increasing production and procurement in the United States and raising U.S. product prices, but those steps would offset only some of the impact, the monthly Reuters Corporate Survey found.
The United States is the top destination for Japanese shipments. The House Republicans' proposal to tax imports at 20 percent could hurt Japan's vital automobile, electronics and other export industries.
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