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U.S. trade deficit with Japan grows 16.0% in March

The U.S. goods trade deficit with Japan grew 16.0 percent in March from the previous month to $6.39 billion, partly due to an increase in automobile imports, the Commerce Department said Thursday.

 

The deficit with China, meanwhile, shrank 11.6 percent to $25.88 billion, the department said.

 

Under his “America First” mantra, President Donald Trump has pledged to reduce U.S. trade deficits with Japan and other major trading partners such as China, Mexico and Germany.

 

Globally, the U.S. deficit in trade of both goods and services narrowed 15.2 percent in the reporting month to $48.96 billion for the first decrease in seven months.

 

U.S. exports increased 2.0 percent to $208.53 billion, while imports dropped 1.8 percent to $257.48 billion.

 

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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