Japanese Exports Decline Due to US Tariffs and Stronger Yen

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Japanese Exports Decline Due to US Tariffs and Stronger Yen
Photo: Hiro Komae AP/TT

For Japan's import, it was simultaneously a decrease of 2.2 percent in April.

Overall, the development meant that Japan got a trade deficit of 115.8 billion yen (approximately 8 billion kronor) in April – after two months in a row with a surplus in trade.

Japan's export to the USA decreased by 1.8 percent in April. The decrease was most evident when it comes to cars and construction machinery. But the export to China and Europe also backed off.

The Trump administration has introduced tariffs on steel and aluminum and since April also on cars. For other Japanese goods, a new tariff of 10 percent has been introduced – which he has threatened to raise.

The Japanese currency yen has also strengthened – as it is seen as a safe haven in times of unrest. This also hits the Japanese export sector's competitiveness.

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TT News AgencyT
By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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