The Bank of Japan worried about the global economy

The governor of the Bank of Japan, Haruhiko Kuroda, said on Monday that global economic prospects are very uncertain and there are risks related to the trade, China’s economic slowdown, and Brexit talks.

During a seminar, Haruhiko Kuroda said the current account balance will be discussed at the G20 summit this year. He commented, however, that bilateral trade measures would not solve imbalances in current accounts.

“There is a high degree of uncertainty and the risks are high”, said Haruhiko Kuroda.

Japan will host the G20 meeting on June 8-9.

Kuroda’s comments on current account balances come amid growing tensions between the US and its major trading partners.

Japan and the US are negotiating a bilateral trade agreement. The US president, who is in Japan on a state visit, has made it clear that he is unhappy with the 68 billion USD trade surplus of Japan against the United States, with much of it coming from car exports.

Trump is also leading a trade war with China in an attempt to curb the US trade deficit and change the years of commercial practices that the US government regards as unfair.