Bank of Japan Governor Kuroda has raised caution about the current uncertainty clouding global economic outlook and potential downside risks that weigh on markets internationally. Kuroda highlighted his concerns while speaking at a seminar, adding that trade will remain in focus during this year’s upcoming G20 meeting.

According to Kuroda, factors that can have an adverse impact on the global economy include escalating trade tensions between US and China, a slowdown in China’s economy as well as Brexit uncertainties. He also added that bilateral trade agreements do not offer adequate correction to rectify trade imbalances between countries.

Japan is set to host a meeting of G20 finance ministers and central bankers on June 8 and 9 ahead of the upcoming G20 Summit slated to be held in Osaka on 28-29 June.