Business

U.S. trade deficit with Japan narrowed 3.4% in June

Kyodo, JIJI

The U.S. goods trade deficit with Japan shrank 3.4 percent to $5.31 billion in June, but saw an overall year-over-year increase of 1.9 percent to $34.6 billion in the first half of 2018, the U.S. Commerce Department said Friday.

The administration of U.S. President Donald Trump may increase pressure on Tokyo to further its efforts to reduce the U.S. deficit with the country ahead of the first meeting of the two nations’ new trade dialogue in Washington on Thursday.

The U.S. deficit with China increased slightly in June, edging up 0.9 percent to $33.48 billion, while that with the European Union fell 12.4 percent to $11.72 billion. The deficit with Germany also declined while that with Mexico increased, the department said.

Overall, the U.S. deficit in global trade of goods and services increased 7.3 percent to $46.35 billion.

Exports slipped 0.7 percent to $213.81 billion while imports rose 0.6 percent to $260.16 billion.

The global trade figures are measured on a balance-of-payments basis after seasonal adjustment, and the country-by-country and regional breakdowns are based on unadjusted customs-cleared data.