Japan recorded a trade deficit of nearly €13 billion in the first six months of this year, a consequence of high export tariffs imposed by the United States, the Japanese government announced.
According to official Tokyo statistics, exports declined by 0.5 percent compared to the same period last year, primarily due to 25 percent tariffs levied on vehicle exports and other products. U.S. President Donald Trump had postponed the imposition of even higher tariffs until August 1 to allow for negotiations, but an agreement has yet to be reached.
Declining Exports and Rising Imports
Japan’s exports have been falling for two consecutive months, while imports in June saw a slight increase of 0.2 percent, the Ministry of Finance reported. The trade deficit in May alone stood at approximately €3.8 billion.
Specifically, exports to the U.S. decreased by 11 percent in June, and exports to China also fell by about five percent.
Ongoing Trade Talks and Rice Focus
Japan and the U.S. are engaged in ongoing trade negotiations, with officials noting that Tokyo remains a crucial ally to Washington. In these talks, President Trump is reportedly focusing on rice, a staple food in Japan and a sector traditionally protected from foreign competition in the country. Japan annually imports over 300,000 tons of rice from the U.S.
