.jpg)
6 hours ago
1
Article content
TOKYO (AP) — 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.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Article content
Globally, exports rose just 2% year-on-year, down from 4% in March, leaving a trade deficit for the first time in three months.
Article content
Imports from the United States fell more than 11% in April, while total imports slipped 2.2%.
Article content
Article content
Weakening exports could drag on growth after the economy contracted 0.7% in the last quarter.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
Japan is asking the Trump administration to scrap his tariffs on imports from Japan, but so far, the U.S. has not agreed to do so.
Article content
The Finance Ministry said April’s trade deficit totaled 115.8 billion yen ($804 million), compared with 504.7 billion yen a year earlier.
Article content
The Japanese yen recently has gained against the U.S. dollar, eroding the value of exports in yen terms. The dollar is trading at about 144 yen, down from about 155 yen a year ago.
Article content
Exports had picked up earlier in the year as businesses rushed to beat tariffs that have gradually taken effect since Trump took office for a second time.
Article content
While trade with the United States has suffered, exports to other regions such as Southeast Asia have expanded.
Article content
The U.S. is charging a 25% tariff on imports of autos, a mainstay of Japan’s trade with the U.S. and a key driver of growth for the economy. Trump has relaxed some of those tariffs but has kept in place higher tariffs on steel and aluminum.
Article content
Japan’s vehicle exports fell nearly 6% in April from the year before.
Article content
Economic Revitalization Minister Ryosei Akazawa, Japan’s main tariff negotiator, is due to visit the U.S. soon for talks, likely over the weekend, in the third round of those talks.
Article content
___
Article content
Yuri Kageyama is on Threads: https://www.threads.com/↕yurikageyama
Article content
English (US)