Japan Cabinet endorses 2-year consumption tax cut on food

Japan Cabinet endorses 2-year consumption tax cut on food

Japanese Prime Minister Sanae Takaichi is pictured ahead of an extraordinary Cabinet meeting at the premier's office in Tokyo on Aug. 5, 2026. The Cabinet approved a plan to cut the consumption tax rate on food and beverages to 1 percent from the current 8 percent for two years starting in April 2027.

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    Japan Cabinet endorses 2-year consumption tax cut on food

    Japan Cabinet endorses 2-year consumption tax cut on food

    Japanese Prime Minister Sanae Takaichi (C) and her ministers are pictured ahead of an extraordinary Cabinet meeting at the premier's office in Tokyo on Aug. 5, 2026. The Cabinet approved a plan to cut the consumption tax rate on food and beverages to 1 percent from the current 8 percent for two years starting in April 2027.
      Japan Cabinet endorses 2-year consumption tax cut on food

      Japan Cabinet endorses 2-year consumption tax cut on food

      Japanese Prime Minister Sanae Takaichi is pictured ahead of an extraordinary Cabinet meeting at the premier's office in Tokyo on Aug. 5, 2026. The Cabinet approved a plan to cut the consumption tax rate on food and beverages to 1 percent from the current 8 percent for two years starting in April 2027.
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          Japan Cabinet endorses 2-year consumption tax cut on food

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          Japanese Prime Minister Sanae Takaichi is pictured ahead of an extraordinary Cabinet meeting at the premier's office in Tokyo on Aug. 5, 2026. The Cabinet approved a plan to cut the consumption tax rate on food and beverages to 1 percent from the current 8 percent for two years starting in April 2027.
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              Japanese Chief Cabinet Secretary Minoru Kihara holds a press conference in Tokyo on Aug. 5, 2026, following U.S. Treasury Secretary Scott Bessent's comments taken as seeking credit tightening by Japanese monetary authorities. Kihara declined to comment after Bessent said in a CNBC interview the previous day he believes Bank of Japan Governor Kazuo Ueda "will do what is needed" when asked whether the BOJ's next move should be a rate hike.
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                  Japan to cut consumption tax on food to 1% from April 2027

                  Japan to cut consumption tax on food to 1% from April 2027

                  Japanese Prime Minister Sanae Takaichi, during a press conference in Tokyo on July 30, 2026, explains the government's plan to cut the consumption tax rate on food and beverages to 1 percent from the current 8 percent for two years starting in April 2027.
                    Japan to cut consumption tax on food to 1% from April 2027

                    Japan to cut consumption tax on food to 1% from April 2027

                    Japanese Prime Minister Sanae Takaichi, during a press conference in Tokyo on July 30, 2026, explains the government's plan to cut the consumption tax rate on food and beverages to 1 percent from the current 8 percent for two years starting in April 2027.
                      Japan to cut consumption tax on food to 1% from April 2027

                      Japan to cut consumption tax on food to 1% from April 2027

                      Japanese Prime Minister Sanae Takaichi, during a press conference in Tokyo on July 30, 2026, explains the government's plan to cut the consumption tax rate on food and beverages to 1 percent from the current 8 percent for two years starting in April 2027.