Despite the U.S. public's joyous welcome for new President Barack Obama, Japanese policymakers and business leaders are fretting over a revival of trade protectionism.

But U.S. policy experts say Obama is not likely to take this route as he focuses on his main priority: reviving the U.S. economy.

"The first thing he should do is take steps to shore up the economy," said Masahiro Sakurauchi, deputy director of North America division for the Japan External Trade Organization. "It is not the time for him to address trade issues."