Japan’s export growth slows in March 

Japan’s exports rose 3.9 per cent year-on-year (YoY) in March, falling short of the 4.4 per cent forecast, as new US tariffs on steel and aluminium began disrupting global trade flows. Imports increased by 2 per cent, also below expectations, resulting in a trade surplus of ¥544.1 billion, according to the Ministry of Finance.

While the surplus supports Japan’s economy amid weak domestic demand and persistent inflation, escalating US trade tensions have begun to weigh on shipments. Exports to the US rose 3.1 per cent, but shipments to China and Europe declined by 4.8 per cent and 1.1 per cent, respectively. Japan has signalled it does not plan to retaliate.

Attribution: The Japan Times

Subediting: Y.Yasser