Japan records 5th straight fiscal year of trade deficits as Trump's tariffs hit auto exports [Globe and Mail, The (Toronto, Canada)]
Toyota Motor Corporation (TM)
US:NYSE Investor Relations:
toyota-global.com/investors
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Source: Globe and Mail, The
Exports rose 4% from the previous year, while imports inched up just 0.5%, the Finance Ministry reported. U.S. President Donald Trump's higher tariffs on imports from Japan and other countries have proven to be a harsh blow for global automakers and other manufacturers. Japan's overall exports to the U.S. fell 6.6% in the last fiscal year, with shipments of autos dropping 16%. However, Japan's trade surplus rose 26% in March from a year earlier in a sign that the export sector is recovering from last year's shocks. Exports jumped nearly 11.7% in March and imports rose almost 10.9%. Japan's auto giants , like Toyota Motor Corp., have moved much of their production to nations where the vehicles are sold to avoid suffering from such policy shifts. But some automakers still export a large share of their vehicles to the U.S. from Japan. Japan imports nearly all of its oil and gas and the war with Iran has raised worries over disruptions of oil shipments from the Middle East. Apart
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