During July, Tokyo’s exports to Washington fell 24 %, worsening Japan’s fiscal deficit to 17.5 billion yen (€683 million).

This is the third consecutive deficit, “in a context marked by the slowdown in trade with the United States, its second-largest trading partner,” amid the Trump administration’s implementation of tariffs, which have significantly affected exports.

Regarding Japanese exports to the US, the figure stood at 1.7 trillion yen (€10.03 billion), representing a year-over-year decrease of 10.1 %. It should be noted that last month, the Asian country “continued to face a base tariff of 10 % imposed by President Trump in April.” Added to this are the tariffs of 25 % on Japanese vehicles.

“Globally, Japanese exports fell 2.6 % year-over-year in July, to 9.35 trillion yen (€57.5 billion), while imports fell 7.5 %, to 9.47 trillion yen (€58.3 billion).”

M.Pino

Source: elpais

(Reference image source: taro ohtani en Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Fall in exports to the US worsens Japan’s trade deficit apareció primero en Bitfinance.