Senior Japanese lawmakers fear the country is heading for a major economic crisis in the face of U.S. tariffs

The Trump administration's tariffs are imminent, and the Japanese government has rushed to formulate support measures for businesses, fearing that tariffs could cause a major economic crisis.

Japanese Prime Minister Shigeru Ishiba said the government would set up about 1,000 advisory booths across the country to advise small and medium-sized companies on the impact of the tariffs. Earlier, Itsunori Onodera, the LDP's head of political research, said tariffs, especially on cars, could wreak havoc on the economy. None of them hinted at any retaliation.

"We are working on this issue non-stop even over the weekend, and once we get the full picture of the negotiations, I will not hesitate to go to the United States if appropriate," Ishiba was quoted as saying by Bloomberg on Tuesday.

Onodera had previously warned about the 25 percent auto tariffs that took effect on April 3. Japan will also find out this week what the reciprocal US tariffs will look like.

"I think this could become a major economic crisis for Japan," Onodera said Tuesday, as he chaired a party seminar to discuss the trade tensions. "Especially given the extent of the supply chain in the auto industry, I think this is going to be a big issue affecting all parts of Japan."