Japan’s exports to the US, its biggest second trading partner, decreased by nearly 2 % in April as price increases imposed by President Donald Trump hit the country hard. Exports, down from 4 % in March, increased by just 2 % year over year, creating a trade deficit for the first time in three months. Imports from the US decreased by more than 11 % in April, while total imports decreased by 2.2 %. Export weakness could stymie growth after the business lost 0.7 % in the previous quarter. Japan has requested that US tariffs on goods from Japan be lifted, but the US has so far refused. The finance ministry reported that, in comparison to the previous year, the trade deficit for April totaled 115.8 billion yen ($ 804 million ). Recent gains in the Chinese yen’s exchange rate with the US dollar have affected the dollar’s worth of exports. The money is trading at about 144 renminbi, down from about 155 japanese a year ago. Imports rose earlier in the year as businesses fought back against tariffs that had gradually become law since Trump’s next term. Imports to other countries, such as Southeast Asia, have increased while the United States ‘ industry has suffered. A major contributor to Japan’s trade with the US and a key contributor to economic growth, the US is imposing a 25 % tariff on imports of automobiles. Trump has reduced some of those taxes, but he has continued to impose higher taxes on aluminum and steel. Exports of Japanese vehicles decreased by nearly 6 % in April from the previous month. In the second square of those discussions, financial revitalization minister Ryosei Akazawa, Japan’s top tariff negotiator, is scheduled to travel to the US immediately for talks, possible over the weekend.
