Japão Exports YoY

Japan’s exports fell 0.5% yoy to JPY 9,162.6 billion in June 2025, marking the second straight monthly drop and missing market forecasts for a 0.5% increase, as sweeping U.S. tariffs weighed on foreign demand. Exports to the U.S. plunged 11.4%, the third monthly drop and the steepest pace since February 2021, due to weaker shipments of cars, auto parts, and pharma. Sales to China slipped 4.7%, while shipments to the EU, Russia, and ASEAN each rose 3.6%, 19.2%, and 4.9%. President Trump has repeatedly criticized Japan for its trade imbalance and warned of a 25% reciprocal tariff set to take effect on August 1. In response, Japanese officials have made several trips to Washington for talks, though a formal deal remains out of reach. Meantime, Japanese automakers have avoided steep price hikes by discounting exports and absorbing tariff costs, often squeezing profit margins. In 2024, Japan exported JPY 21 trillion worth of goods to the U.S., with vehicles making up near 28% of the total.