G20 Watch: Weaker Exports Raise Pressure on Abe To Deliver Deals

G20 31 Japan 518 Trade Balance 866 U.S. 4625

Japan’s international trade activity fell 4.5% year over year in May, driven by a 7.8% slide in exports. While the latter can be blamed in part on the Imperial Coronation holiday it will nonetheless increase pressure on Prime Minister Abe to show action to shore up exports and economic growth ahead of July’s elections. The G20 Summit from Jun. 28 may be an opportunity to unveil a framework deal with the U.S. where talks covering tariffs in five sectors have been ongoing. The focus in that regard will need to be on autos, where Japanese exports to the U.S. rose 9.2% year over year in May ...

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