According to Reuters, Japan’s export growth slowed far more than expected, and auto exports fell sharply. US President Trump will impose high Japanese auto tariffs, which will also affect Japanese auto exports. In addition, Japan’s trade deficit Excessive and international trade conflicts also threaten the Japanese economy.
According to Tokyo, Japan’s exports to the United States fell for the second consecutive month. Japan’s export growth slowed more than expected in July, and the auto industry fell sharply. Global trade disputes led to unstable overseas demand.
According to data released by the Japanese Ministry of Finance on August 16, exports increased by 3.9% in July. According to a Reuters survey, this is far below the economist's estimate of 6.3%. In June, the index increased by 6.7%. Japan's exports to the US in July fell 5.2% year-on-year, the second consecutive month of decline, due to a 12.1% drop in car shipments.
A Treasury official said that because of the strong US economy and the drop in oil prices last year, car sales were strong. This year, the situation has turned sharply. We are not sure whether the current situation has been affected by trade tensions with the United States.
US President Trump has placed the threat of high tariffs at the heart of his agenda, focusing on the trade deficit between the US auto industry and countries such as Germany and Japan, which has triggered a trigger on Trump to restrict the export of other countries' cars to the United States. Guess. So far, Japanese automakers are not eager to increase exports to the US. They expect that if the US increases tariffs in the next few months, Japan's exports to the US will decrease.
Takeshi Minami, chief economist at the Japan Agriculture, Forestry and Chinese Gold Institute, said: 'Although Japan has increased its vigilance against US trade policy, US auto sales are stabilizing, so Japan’s auto exports to the US are also stabilizing. And if capital outflows in emerging economies accelerate, this will lead to a significant slowdown in the global economy, which in turn will put pressure on Japanese exports.
As of July this year, Japan’s imports from the United States increased by 11.0%. Imports were mainly crude oil, automobiles and liquefied petroleum gas. Japan’s trade surplus with the United States fell by 22.1% year-on-year to 502.7 billion yen (about 31.2 billion yuan). ).
According to July data, Japan’s exports to China increased by 11.9% year-on-year. Exports to Asia increased by 8.0%, and Japan’s exports to Asia accounted for more than half of its total exports, including semiconductor equipment and electronic components and exports for China. Steel to Thailand.
As of July this year, Japan’s total imports increased by 14.6%, which is in line with economists’ median forecast, but Japan’s trade deficit reached 231.2 billion yen (about 143.5 billion yuan), much higher than the expected 50 billion yen. (about RMB 31 billion).
After the release of gross domestic product (GDP) data, the trade figures released on August 16 showed that Japan’s economy grew in the first quarter, due to the increase in household and corporate spending, Japan’s economic growth in the second quarter. It was 1.9%, and the previous economic contraction has recovered.
Some analysts said that global economic growth may promote Japan's exports, but international trade conflicts are a long-term risk to the Japanese economy that relies on exports. The US's increase in export tariffs on Japanese cars will also have a major impact on the overall economy. .