Trump Tariffs Set to Deal Heavy Blow to Trade Partner Japan
Economy
Some 20% of Japan’s exports in 2024 went to the United States, with around a third of the total connected to the auto industry.
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US President Donald Trump’s sweeping tariffs are set to deal a heavy blow to Japan’s economy, and particularly its automobile industry.
According to finalized statistics from the Ministry of Finance, the total value of Japan’s exports in 2024 rose to a record ¥107.1 trillion. Of these, exports to the United States are worth ¥21.3 trillion, or 19.9% of the total, while exports to China amount to ¥18.9 trillion, or 17.6%. In recent years, almost 40% of Japanese exports have gone to the US and Chinese markets.
Among Japanese exports to the United States, automobiles and automobile parts account for ¥7.2 trillion, or around a third of the overall figure.
(Translated from Japanese. Banner photo © Pixta.)