Japan has reported its exports fell in May as shipments of autos to the U.S. dropped nearly 25% from a year earlier due to higher tariffs imposed by President Donald Trump

Japan's exports fell in May for the first time in eight months as big automakers such as Toyota absorbed the costs of sweeping tariffs imposed by the U.S., and the failure of the Asian nation to reach a trade deal this week will likely pile pressure on its fragile economy.

Ishiba traveled to the G7 summit in Canada hoping a direct appeal might get talks back on track after Japanese negotiators struggled to secure respite on a 25% tariff imposed on imported cars, according to two officials with knowledge of the matter.

The drop in exports and the larger trade deficit add to concerns that Japan’s economy could shrink again in the second quarter.

The monthly poll, which tracks the Bank of Japan's quarterly business sentiment index, recorded a manufacturers' index of plus 6 in June, down from plus 8 in May. The index is projected to decline further to plus 2 in the coming three months, though it remains in positive territory, signalling that optimists still outnumber pessimists.

TOKYO] Japan’s exports fell for the first time in eight months in May, data showed on Wednesday (Jun 18), indicating that sweeping US tariffs were threatening the country’s fragile economic recovery.

Japanese companies are ramping up rice imports as high prices for domestic grain make the overseas product competitive even with a heavy tariff.

Drop in exports and the widening trade deficit signal Japan’s economy could shrink again in the second quarter. Read more at straitstimes.com. Read more at straitstimes.com.