TOKYO — Japan will tap additional funds to help the fisheries industry after China banned Japanese seafood in response to the release of water from the Fukushima nuclear plant last week, the Nikkei reported on Thursday (Aug 31).
The additional several tens of billions of yen will be tapped from the government's budget reserves for the current fiscal year, the Nikkei said.
Japan started releasing treated radioactive water from the wrecked Fukushima nuclear power plant into the Pacific Ocean last Thursday, prompting China, Japan's biggest trade partner, to impose a blanket ban on Japanese aquatic products. More than 700 Japanese companies exported about US$600 million worth of aquatic products to China in 2022, making it the biggest market for Japanese exports, followed by Hong Kong, which announced its own ban on seafood imports from 10 Japanese regions after the Fukushima release.
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