Why Japan sees President Trump's tariffs as a 'national crisis'

The flag of Japan (right) hangs outside the New York Stock Exchange on May 5, 2008, in honor of Ryozo Kato, the ambassador of Japan to the United States at the time, ringing the opening bell.

Although largely paused, President Trump's tariffs present a major threat to Japan's already flagging economy.

(Image credit: Stan Honda)