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Business leaders on Tuesday expressed hope that Prime Minister Shinzo Abe’s new Cabinet will focus on trade talks with the United States to ensure that their competitiveness and growth will be maintained.

Economic circles welcomed the expected continuation of government policies, as key economic ministers were retained in the new Cabinet, but called for further steps on fiscal consolidation as the state budget plan for fiscal 2019 may top ¥100 trillion ($880 billion) for the first time due to rising social security costs and defense spending.

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