Japan's Exports to US Decrease
(MENAFN) In April, Japan's exports to the United States experienced a decline for the first time in four months, as reported by a news agency, citing data from the government.
The drop in exports was attributed to the tariffs imposed by U.S. Leader Donald Trump.
According to customs-cleared data from Japan's Finance Ministry, exports to the U.S. decreased by 1.8 percent compared to the previous year, totaling 1.77 trillion yen (USD12.3 billion).
One of the most significant declines was seen in automobile shipments, which fell by 4.8 percent, while steel exports suffered a substantial drop of 29 percent.
Despite these setbacks, Japan still recorded a trade surplus of 780.6 billion yen with the United States, marking a 14.3 percent increase.
This surplus was mainly driven by a notable reduction in imports, which dropped by 11.6 percent to 990.2 billion yen.
The decline in imports was attributed to a stronger yen and falling crude oil prices.
The decrease in Japan's exports follows the introduction of tariffs by the Trump administration on nearly all of its trading partners.
If these tariffs persist, Japan's exports to the U.S. could continue to shrink.
Specifically, Japan faces a 5 percent tariff on its auto, steel, and aluminum exports, as well as a 24 percent "reciprocal" tariff on other goods, although these are temporarily suspended.
A 10 percent baseline tariff remains in effect.
Japan’s chief tariff negotiator, Economic Revitalization Minister Akazawa Ryosei, is expected to participate in a third round of trade talks in Washington on Saturday, according to a broadcaster.
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