Japan recorded a trade deficit in its March-April fiscal year but racked up a surplus with the US, the Finance Ministry reported Thursday.
Japan’s global trade deficit totaled 5.2 tn yen (USD 37 bn) for the fiscal year through March, for the fourth straight year of deficits, according to the provisional statistics. The surplus with the US ballooned to 9 tn yen (USD 63 bn), Firstpost reported.
Exports to the United States are a contentious issue for US President Trump, and Japanese negotiators are in Washington to press their case against increased US tariffs.
Japan is a long-standing US ally and major investor in the US, employing hundreds of thousands of Americans.