Automobiles awaiting cargo are parked at a port on March 27, 2025 in Yokohama, Japan. U.S.
Tomohiro Ohsumi | Getty Photographs
Japan exports slowed for a second straight month, authorities information confirmed Wednesday, because the nation reels underneath U.S. President Donald Trump’s sweeping tariffs.
Exports progress of two% was in keeping with Reuters-polled analysts’ estimates, its slowest since October final 12 months and the worst exhibiting since September when exports contracted 1.7%.
The nation’s imports shrank 2.2% from a 12 months in the past, lower than estimates of a 4.5% decline.
Japan’s actual gross home product contracted an annualized 0.7% within the first quarter this 12 months, preliminary authorities information confirmed, dragged down by stagnant personal consumption and slowing export growth.
Japan presently is being charged a 25% levy on its auto, steel and aluminum exports to the U.S. The important thing U.S. ally is topic to the ten% baseline tariffs imposed by Trump on most commerce companions. Japanese items additionally face ‘reciprocal’ tariffs of 24% which have been quickly suspended.
Trump on April 2 levied “reciprocal” tariffs on over 180 international locations together with Japan, solely to droop them later for 90 days, permitting commerce companions to strike offers with Washington.
Cars are Japan’s prime export to the U.S., accounting for 28.3% of all shipments in 2024, according to customs data.
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