Japan’s exports climbed 6% in November from a year earlier, with shipments to the United States rising for the first time since March as uncertainties over tariffs abated following a trade deal with the Trump administration.
The preliminary data released Wednesday showed Japan’s total imports rose 1.3% last month over a year earlier, leaving a surplus of 322.2 billion yen (about $2.1 billion).
Exports to the U.S. rose nearly 9% from the year before as shipments of cars, chemicals and cameras helped make up for declines in machinery and iron and steel. Imports of U.S. oil nearly tripled, along with sharp increases in imports of grain and other food products.
Japan’s deal on tariffs with President Donald Trump’s administration, setting the baseline import duty for most products at 15% instead of the earlier plan for a 25% tariff, helped boost passenger car shipments by 8% when measured by the number of vehicles. But the value of those cars, trucks and buses inched up only 1.5%, reflecting the reluctance of automakers to pass costs from higher tariffs onto consumers.
Imports from the U.S. climbed more than 7%, though Japan still logged a trade surplus of 739.8 billion yen ($4.7 billion), up 11% from a year earlier.
Japan’s exports to the European Union surged about 20% last month from a year earlier, supported by growth in demand for machinery, vehicles and other manufactured goods.
But tensions with Beijing after Prime Minister Sanae Takaichi commented on defense of Taiwan took a toll, with exports to China falling 2.4% on weaker shipments of chemicals, machinery and vehicles.
Despite a nascent recovery in trade with the U.S., its largest trading partner, higher tariffs are likely to continue to weigh on exports, Norihiro Yamaguchi of Oxford Economics said in a report.
Still, he forecast that Japan’s exports will likely improve in the coming year.
“Spillovers from robust U.S. AI-related spending will likely support exports as well,” Yamaguchi said.
