Japan's exports slow in April as Trump's tariffs dent shipments to the U.S.
Japan's exports slow in April as Trump's tariffs dent shipments to the U.S.
TOKYO — 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.
Globally, exports rose just 2% year-on-year, down from 4% in March, leaving a trade deficit for the first time in three months.
Imports from the United States fell more than 11% in April, while total imports slipped 2.2%.
Weakening exports could drag on growth after the economy contracted 0.7% in the last quarter.
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.
The Finance Ministry said April's trade deficit totaled 115.8 billion yen , compared with 504.7 billion yen a year earlier.
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.
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.
While trade with the United States has suffered, exports to other regions such as Southeast Asia have expanded.
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.
Japan's vehicle exports fell nearly 6% in April from the year before.
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.
Yuri Kageyama is on Threads: https://www.threads.com/@yurikageyama
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