Japan's exports fall in June, hit by global trade wars

July 17, 2019 - 7:51 pm

TOKYO (AP) — Japan says exports declined in June as shipments of goods were hit by global trade wars.

The data released by the Finance Ministry Thursday show Japan's exports declined 6.8% compared to the same month last year, while imports fell 5.2%.

The ministry also reported that the trade surplus for the month totaled 589.5 billion yen ($5.5 billion).

For the first six months of this year, Japanese exports slipped 4.7% while imports edged down 1.1%, with the nation logging a trade deficit of 888.8 billion yen ($8.2 billion).

The Japanese economy is dependent on exports and has been hurt by the conflict between the U.S. and China.

President Donald Trump has imposed 25% tariffs on $250 billion in Chinese imports. Beijing has countered by taxing $110 billion in U.S. goods.

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