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Japan’s global exports rose 3.7% in October from a year earlier, while imports from the world rose 0.6%, according to government data released Friday.
Finance Ministry data showed exports to the US declined 3.1%, the seventh consecutive month of year-on-year decline, mainly due to higher US tariffs.
chairman donald trump announced a trade framework with Japan In July, a 15% tax was imposed on goods imported from that country. That’s lower than the 25% rate Trump initially said would begin in August. Earlier, the tariff on most goods was 2.5%.
That’s a heavy burden for the export-reliant nation that is a key U.S. ally, but shipments to the rest of Asia are helping to offset those lost sales.
Japan’s soybean imports from around the world rose 37.3% from a year earlier, while imports of iron and steel products declined 17.1%.
Imports from the US rose 20.9% in October from a year earlier, mainly of petroleum and food items such as grains.
Exports of computer parts and other machinery and buses and trucks to the US declined.
japan exports China It climbed 2.1% last month compared to a year earlier. Exports to Hong Kong increased by 19.2%, while they taiwan were up 17.7%.
As a result, Japan narrowed its overall trade deficit to 231.77 billion yen ($1.5 billion) in October, down from 499.95 billion yen a year earlier.
After the Prime Minister, new concerns have recently emerged regarding trade with China. Sanae TakaichiThe country’s first woman leader made such comments about Taiwan that have angered China. This prompted Beijing to issue an advisory against travel to Japan.
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