As the nation struggles under U.S. President Donald Trump’s sweeping tariffs, official statistics released on Wednesday indicated that Japan’s export growth slowed for a second consecutive month.
According to economists surveyed by Reuters, export growth was 2%, the lowest since September when shipments dropped 1.7% and the weakest since October of previous year. Imports decreased 2.2% of the prior year, which was less than the 4.5% fall that was predicted.
In terms of value, Japan’s exports to the United States of transportation equipment, such as automobiles and their parts, decreased 4.1% from the previous year. According to customs data, automobiles accounted for 28.3% of all exports in 2024, making them Japan’s leading export to the United States.
Japan’s exports of steel, aluminium, and automobiles to the United States are subject to a 25% tariff. Trump’s 10% baseline tariffs on most trade partners also apply to the important U.S. ally. Additionally, Japanese imports are subject to 24% “reciprocal” duties, which have been temporarily halted.
Trump imposed “reciprocal” duties on over 180 nations, including Japan, on April 2. A week later, he suspended the penalties for 90 days due to market turbulence, enabling trading partners to negotiate with Washington.
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