The Japanese yen weakened toward 147 per US dollar on Friday, nearing a three-week low as the greenback gained strength amid rising global trade tensions. The move followed a series of aggressive tariff announcements by US President Donald Trump, including a 35% levy on Canadian imports and plans for 15% to 20% blanket tariffs on most other trade partners. Tensions between the US and Japan also remained in focus. Earlier this week, Trump unveiled a 25% tariff on Japanese goods, set to take effect on August 1, further straining bilateral ties. In response, Japanese Prime Minister Shigeru Ishiba stressed the need to reduce the country's reliance on the US in strategic areas such as defense, food security, and energy. He described the ongoing negotiations as a “battle in which national interest is at stake.” A leading Japanese think tank projected that the tariffs could cut Japan’s GDP by 0.8% in 2025 and by 1.9% cumulatively through 2029.