Japan’s exports fall for second straight month with no U.S. trade deal in sight
The Flag of Japan is flying near the cargo containers on 6 August 2020 on the coast of Tokyo.
Behrouz Mehri | Contributor | Getty Images
Japan’s exports in June extended a 1.7% decrease in May as a 0.5% contract, from year to year, in May.
The decrease in exports was reversed by Reuters by the economists participating in the survey and the 0.5% increase was reversed and comes in the midst of a lack of breakthrough in trade talks with the US.
Exports to China, Japan’s largest trade partner, decreased by 4.7%, while exports to the US decreased by 11.4% each year and deepened from 11% decrease in May.
Data, Japan is now a 25 % “mutual tariff” It will come into force from the US on August 1, one percent higher than 24% described on the “Day of Independence”.
US President Donald Trump in the early hours of Wednesday Repeated that 25 % tariff He would apply to Japanese imports by saying that he did not expect to make a wider agreement with the country.
Since April 3, Japanese cars imported to the United States have also faced 25% tariff.
However, the data obtained from the Ministry of Commerce showed that the export of automobiles, which is the cornerstone of the Japanese economy, decreased by 26.7% in June and decreased from 24.7% of May to 26.7%.
The car made Japan’s biggest export to the USA or 28.3% of all posts in 2024, According to customs data.
Analysts, in his previous statement to CNBC, additional tariffs may transfer the Japanese economy -dependent Japanese economy to stagnation.
The Japan economy signed a contract in the first quarter of the year compared to the previous quarter due to the weakening of exports, and such a contraction will see that it meets the definition of a technical recession.
Export – Including Services – Almost made 22% of Japan’s GDP in 2023According to the latest data from the World Bank.
On July 8, Japan’s best negotiator Ryosei Akazawa said that any agreement should contain automatic concessions for the country.
In addition, the US, including the last date of August 1, aside from any deadline date, for the sake of an early agreement, Japan will not sacrifice the agricultural sector, he added.
US President Donald Trump targeted the country’s rice sector on 1 July. Publishing on real Social Despite the rice shortage in the country, Japan will not take our rice “.
Japan imported rice from the United States in 2024, just over 350,000 tons, the US became the largest rice exporter to Japan that year.
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