ZCZC
BCN-16
JAPAN-ECONOMY-TRADE
Japan trade surplus with US shrinks for second month
TOKYO, Sept 19, 2018 (BSS/AFP) – Japan’s sensitive trade surplus with the
United States shrank sharply for the second consecutive month, according to
official data published Wednesday, as Tokyo nervously eyes Washington’s trade
war with China.
The surplus came in at 455.8 billion yen ($4.05 billion) in August, as the
rise in US aerospace, natural gas and coal imports outpaced Tokyo’s exports
of pharmaceutical and construction products.
US President Donald Trump has reportedly cited Japan as his next target
after China as he seeks to reduce Washington’s trade deficit.
The US-China trade war has shown no sign of cooling, with Trump moving
forward with tariffs on $200 billion in Chinese imports, sparking immediate
retaliation from Beijing.
Japan logged an overall global trade deficit of 444.6 billion yen, as the
rising value of energy imports continued to outpace export growth.
Exports rose 6.6 percent led by machines to build semiconductors,
automobiles and ships.
But the total value of foreign imports climbed 15.4 percent, largely due
to rising cost of energy such as crude oil, LNG and coal.
Japan’s deficit with its biggest trading partner China shrank 25.1
percent.
BSS/AFP/HR/0955