Japan's government on Thursday downgraded its assessment on the global economy in the face of uncertainty over U.S. trade policy, signalling its alarm over the broadening fallout from President Donald Trump's tariffs.

Growth in Japan’s exports slowed as the US ramped up its tariff measures, highlighting the risks the country faces after its economy already contracted before the levies began hitting in earnest.Most Read from BloombergCan Frank Gehry’s ‘Grand LA’ Make Downtown Feel Like a Neighborhood?

Japan's exports to the United States, its largest single trading partner, fell nearly 2% in April as tariff hikes imposed by President Donald Trump hit home.