Japan Trade Surplus With US Shrinks Further
Fakhir Rizvi Published October 18, 2018 | 11:09 AM
Japan's trade surplus with the United States shrank for the third consecutive month, according to official data published Thursday, as Tokyo nervously eyes Washington's trade war with China.
Tokyo, (UrduPoint / Pakistan Point News - 18th Oct, 2018 ) :Japan's trade surplus with the United States shrank for the third consecutive month, according to official data published Thursday, as Tokyo nervously eyes Washington's trade war with China.
The figures also showed an overall global trade surplus, but that exports had declined for the first time in nearly two years, apparently as a result of several natural disasters this summer.
The surplus -- a sensitive subject in Washington -- with the US came in at 590.3 billion Yen ($5.2 billion) in September.
Exports of construction machinery and car parts down and imports of fossil fuels and other US goods up.
US President Donald Trump has reportedly described Japan as his next target after China as he seeks to reduce Washington's trade deficit.
Tokyo has watched nervously as Trump's government has imposed tariffs on Chinese goods and criticised Beijing for its Currency policy.
US and Japanese officials are expected to begin trade talks in January.
In a long-awaited report released Wednesday, Washington declined to label Beijing a "currency manipulator", but said the Yuan's fall and Beijing's exchange practices were of "particular concern".
Washington has long argued Beijing keeps its currency artificially low to make its exports more competitive.
Japan logged an overall global trade surplus of 139.6 billion yen, the first surplus in the past three months.
But exports declined for the first time in 22 months, with falls in the export of vehicles and telecommunication equipments, among other products.
Experts cited by Bloomberg said the drop was the result of a string of natural disasters, including a typhoon that inundated an airport in the Kansai region, and an earthquake in northern Japan's Hokkaido that disrupted supply lines.
Japan's deficit with its biggest trading partner China expanded 30.6 percent.
Related Topics
Recent Stories
Govt committed to developing gems, jewellery sector: Minister
Three new bills introduced in Senate
Nine dead, 1,318 injured in Punjab road accidents
Ukraine, Russia exchange fire, at least seven dead
1st-ever National Sports Revival conference starts next month
Joint venture decided for action against MEPCO’s defaulters
Modern irrigation system imperative to deal with water scarcity: UAF VC
Bringing 4.4mln hectares suitable land under olive cultivation to address econom ..
One woman died after speedy bus overturned
155 killed in Tanzania as heavy rains lash East Africa
Parliament committed to resolve public issues on priority basis: Ghulam Mustafa
Collaborative Care of Diabetes Centre inaugurated in Faisalabad
More Stories From Business
-
Collaborative Care of Diabetes Centre inaugurated in Faisalabad
2 hours ago -
Kazakh envoy stresses quantum jump in bilateral trade
1 hour ago -
Thousands of flights scrapped as French air traffic controllers strike
1 hour ago -
SECP proposes amendments to General Takaful Accounting Regulations, 2019
1 hour ago -
Govt committed to developing gems, jewelry sector: Minister
2 hours ago -
Pakistan earns $1,976 million from IT services' export in 8 months
3 hours ago
-
Turkey central bank holds key interest rate steady
1 hour ago -
PSX loses 80 points
3 hours ago -
Ahad Cheem lauds UNDP’s cooperation
3 hours ago -
Rupee sheds 09 paisa against dollar
1 hour ago -
Chinese tech behemoth enters game amid global EV surging trend
1 hour ago -
London stocks hit new record on blockbuster mining takeover bid
4 hours ago