Japan exports plunge as China-US trade war takes toll

Media IN Tokyo, July 18 (BNA):

Japan’s exports declined in June as shipments of goods were hit by trade disputes between China and the US, the Finance Ministry reported Thursday.

The data released by the Finance Ministry on Thursday show exports fell by 6.8% in June from a year earlier, the seventh straight month of decline, while imports fell by 5.2%, the Associated Press (AP) reported.

The trade surplus for the month dropped by 20% to 589.5 billion yen ($5.5 billion), the ministry said.
For the first six months of this year, Japanese exports slipped 4.7% while imports edged down 1.1%, with the nation logging a trade deficit of 888.8 billion yen ($8.2 billion).

The Japanese economy, the world’s third largest, is dependent on exports and the conflict between the U.S. and China has taken a sharp toll.