Japan will seek to keep in step with the new U.S. administration under President-elect Joe Biden in taking fiscal stimulus steps to revive the pandemic-hit world economy, while watching whether Washington will seek to return to a Trans-Pacific free trade pact it quit three years ago, Japanese officials say.
The overall shape of Biden's policies remains unclear, but it is hoped he will take a softer stance on trade than President Donald Trump, who has advocated protectionist measures.
On Tuesday, Prime Minister Yoshihide Suga instructed ministers to compile a third extra budget for the fiscal year through March and draw up a fresh economic stimulus package to help the economy rebound from the impact of the coronavirus. Some ruling camp lawmakers say the budget could total between ¥10 trillion ($95 billion) and ¥15 trillion.