Japan's trading houses keep eyes on U.S. energy policy, election

Top conglomerates brace for potential changes resulting from America's presidential vote

20241101 American energy policy

U.S. President Joe Biden speaks during a visit to Vernon Electric Cooperative in Westby, Wisconsin, on Sept. 5. The outcome of next week's presidential election could significantly affect U.S. energy policy, which has Japanese trading houses weighing possible contingencies. © Reuters

AKANE OKUTSU, Nikkei staff writer

TOKYO -- Japan's major trading houses are closely watching the course of U.S. energy policy, as the outcome of the presidential election next week will likely determine if the world's biggest economy will push for more investment in fossil fuels or cleaner energy.

If Donald Trump is elected, "regulations would be eased, and there would be significant tax cuts, while trade and diplomacy would be protectionist ... and there would be a backward shift from green to fossil fuels," Marubeni Chief Financial Officer Takayuki Furuya said in a press conference on Friday.

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