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ECONOMY > Economic Indicators

U.S. trade deficit with Japan widens 3.7% in July

  • September 6, 2017
  • , Kyodo News , 10:06 p.m.
  • English Press

The U.S. goods trade deficit with Japan in July widened 3.7 percent from the previous month to $5.78 billion, partly due to an increase in imports of passenger cars, the Commerce Department said Wednesday.


The deficit with China grew 3.0 percent to $33.56 billion, the department said.

U.S. President Donald Trump is calling for “fair” trade and has pledged to reduce the U.S. trade deficit with major trading partners such as China and Japan.


Trump has also expressed his preference for handling trade issues bilaterally.


The U.S. goods trade deficit with Germany increased 1.0 percent in the reporting month to $5.55 billion, while the deficit with Mexico — which is part of the North American Free Trade Agreement with the United States and Canada — shrank 17.4 percent to $4.92 billion, according to the department.


Globally, the U.S. deficit in trade of goods and services in July widened 0.3 percent from the previous month to $43.69 billion, the first increase in three months.


Exports shrank 0.3 percent to $194.38 billion due partly to a decline in exports of automobiles, automotive parts and engines.


Imports fell 0.2 percent to $238.07 billion, reflecting a decrease in crude oil imports.


The average import price per barrel of crude oil stood at $43.20 in July, down from $44.68 in June.


The global trade figures are measured on a balance-of-payments basis after seasonal adjustment, and the country-by-country and regional breakdowns are based on unadjusted customs-cleared data.

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