Add thelocalreport.in As A Trusted Source
JapanExports rose 6% in November from a year earlier, with shipments to the United States increasing for the first time since March as uncertainties over tariffs eased following a trade deal. trump Administration.
Preliminary data released on Wednesday showed Japan’s total imports rose 1.3% last month from a year earlier, leaving a surplus of 322.2 billion yen (about $2.1 billion).
Shipments of cars, chemicals and cameras helped offset declines in machinery and iron and steel, causing exports to the US to rise nearly 9% from the previous year. US oil imports nearly tripled, along with a sharp increase in imports of grain and other food products.
Japan’s agreement on tariffs with President Donald Trump’s administration set the baseline import duty at 15% instead of the previous plan of a 25% tariff for most products, helping boost passenger car shipments by 8% depending on the number of vehicles. But the value of those cars, trucks and buses increased by only 1.5%, reflecting automakers’ reluctance to pass the cost on to consumers from higher tariffs.
Imports from the US rose more than 7%, although Japan still recorded a trade surplus of 739.8 billion yen ($4.7 billion), up 11% from a year earlier.
Japan’s exports to the EU last month rose nearly 20% from a year earlier due to increased demand for machinery, vehicles and other manufactured goods.
But after the Prime Minister, tension with Beijing Sanae Takaichi commented on the defense of taiwan There was a huge impact on exports China A decline of 2.4% on weak shipments of chemicals, machinery and vehicles.
Despite an initial improvement in trade with the US, its biggest trading partner, higher tariffs are likely to continue to weigh on exports, Norihiro Yamaguchi of Oxford Economics said in a report.
Still, he estimates that Japan’s exports are likely to improve in the coming year.
“Spillovers from strong US AI-related spending are also likely to support exports,” Yamaguchi said.