A huge jump in the number of Japanese firms impacted by US - China trade war

Reuters surveyed Japanese businesses and found an order of magnitude increase in firms affected by the trade war

The main points from the Reuters poll 9bolding mine):

• One-third of firms affected by trade war vs 3 pct seen in May
• Just over half worried about the fallout from the trade war
• Some, albeit small proportion, may shift output out of China
• 40 pct of firms believe trade war could disrupt supply chains

Concerns centre on Japanese exports to China along with potential slower demand from China

• "If it does become a fully fledged trade war, then this could hit Japanese exports and supply chains, in turn hurting capital expenditure and dampening consumer spending and potentially damaging Japan's entire economy," said Masaki Kuwahara, senior economist at Nomura Securities, who reviewed the survey results.
• "The trade friction is having a big impact on exports from China of the raw materials used to build products in the United States," a manager at an auto-sector firm wrote. "Even if we consider measures to avoid tariffs, there's a limit to what we can do," the manager added.