Photo of Jacob McGowin in Unsplash
Japan's exports to the United States fell 13.81 trillion pounds in August compared to the same month last year, according to Ministry of Finance data released Wednesday. This is the fifth consecutive month of decline, driven primarily by the drop in shipments of automobiles and auto parts following the imposition of tariffs by the Trump administration.
The decline was greater than that recorded in July, when exports had already fallen by 10.1%. Although Washington recently reduced tariffs on Japanese cars from the initial 27.5% to 15%, the level remains well above the original tariff of 2.5%, which continues to pressure the Japanese auto sector.
The data reflects only August, when the highest tariffs were still in effect. In contrast, Japanese exports to Europe and the Middle East showed growth, which moderated the impact and left the overall decline in Japanese exports at just 0.1%.
In terms of imports, Japan reported a 5.21% year-on-year decrease, although with significant regional variations. Imports from the United States grew by 11.61%, while those from China increased by 2.11%, respectively. Japanese exports to the Chinese market, however, decreased by 0.51%, respectively.
By sector, the increases in food exports (+18%) and ships (+25%) stood out, while in imports, computers (+35%) and aircraft (+21%) led.
Economists warn that while Trump's partial tariff rollbacks could soften the numbers in the coming months, the prolonged period of trade uncertainty is affecting both Japanese manufacturers and their international supply chains.
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