Japanese export growth slowed by US duties — Bloomberg

The US tariffs on steel and aluminum introduced by President Donald Trump contributed to weaker‑than‑expected growth in Japanese exports in March, Bloomberg reported. Exports rose 3.9% from a year earlier, a notable slowdown.

Japan still recorded a trade surplus, which continues to underpin domestic economic growth. However, escalating tariff tensions, the unpredictability of US trade policy, and the prospect of retaliatory measures from other countries are clouding the nation’s outlook, Bloomberg analysts noted.

On Wednesday, Japan’s trade minister, Ryosei Akazawa, began talks in Washington with US officials, including Scott Bessent, to negotiate reductions in tariffs. President Trump, who has delayed the planned 24% tariffs on Japanese goods by three months, joined the opening session. For now, though, the basic 10% levy remains in place.

Bloomberg added that the tariffs are weighing on global trade, affecting both allies and adversaries. Japan’s exports to the United States rose just 3.1% in March, down from February’s 10.5% increase, while shipments to China and Europe declined.