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Japanese exports rose 3.9% in March, slowed by Trump’s steel and aluminum tariffs. Economists polled by Reuters noted that the country’s growth missed their expectations of a 4.5% rise and was also lower than the 11.4% surge in February. Japan was issued 25% tariffs on auto imports to the U.S. effective April 3 and 25% levies on steel and aluminum, which came into effect on March 12. Trump later suspended his “reciprocal” tariffs of 24% on Tokyo for 90 days but left a baseline tariff of 10%. Japanese export growth misses expectations in March Tokyo saw a 3.9% increase in March exports compared to a year earlier, a month after the country also reported its largest rise in exports since May 2024. Economists polled by Reuters were expecting a 4.5% rise in export growth, which was lower than Japan’s 11.4% rise in February. Data also showed that Japanese exports surged the most in the Middle East region, recording a 17.1% increase compared to the same period a year ago. The country’s exports to the U.S., its second-largest trading partner, increased 3.1% amid Donald Trump’s heightened trade policies. Last month’s data does not include the full impact of the President’s tariffs.  Source: Trading Economics. Japan’s exports YoY. Data showed that Japan was the sixth largest steel exporter to the U.S. last year, and the country’s car brands make up four of the top eight best-selling brands in the U.S., with Toyota taking the top spot. Customs data revealed that automobiles are Japan’s top export to the U.S., accounting for 28.3% of all shipments in 2024. Imports to Asia’s second-largest economy by GDP surged 2%, compared to a Reuters poll expectation of a 3.1% rise. “Japan is no longer the export powerhouse it once was.” Jesper Koll, expert director at Monex Group.…

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Filed under: News - @ April 17, 2025 8:26 am