Japan's economy slips 0.5% in March: JCER
TOKYO -- Japan's economy shrank at an annualized 0.5% in March versus the previous month as exports, including automobiles, declined due to rising fears over U.S. trade policies, according to an estimate released by the Japan Center for Economic Research (JCER) on Wednesday.
Japanese exports of goods and services declined 2.6% for the month. Exports to the U.S. recorded the sharpest fall at 7.8%, while those to China dropped 6.8%, offsetting the 1.4% rise in exports to the European Union.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Kyodo News
2 hours ago
- Kyodo News
Ishiba, Trump to meet on G7 fringes: Japan PM
KYODO NEWS - 19 hours ago - 09:29 | All, Japan, World Japanese Prime Minister Shigeru Ishiba said Friday that he agreed with U.S. President Donald Trump to meet in Canada on the sidelines of the Group of Seven summit next week. Ahead of another round of ministerial-level tariff talks in the United States, Ishiba told reporters after a 20-minute phone call with Trump that Japan's stance of urging the administration to eliminate its higher tariffs on Japanese products remains unchanged. Ishiba also said he and Trump shared the view that peace and stability in the Middle East are important, following a spike in tensions after Israel's attack on Iran. "We confirmed that we will further deepen our discussions on bilateral cooperation when we meet next week on the occasion of the G7 (summit)," Ishiba said, adding that no specific date has been set. The two leaders agreed on the need to accelerate ministerial negotiations to reach "a deal that will be beneficial to both Japan and the United States," Ishiba said. The premier said the leaders did not discuss in their call the possibility of him visiting the United States prior to the G7 summit. Ishiba and Trump also held telephone conversations twice in late May. Japan's chief tariff negotiator Ryosei Akazawa, known as a close aide to Ishiba, is expected to hold talks with senior U.S. officials in Washington on Friday, ahead of the two-day G7 meeting from Monday in Canada's Kananaskis. Tokyo has been calling on Washington to reconsider its tariff policy targeting imports ranging from cars and auto parts to steel and aluminum. It was the third telephone conversation between Ishiba and Trump in roughly a month, with the previous one on May 29. Ishiba, meanwhile, said he extended birthday wishes to Trump during the phone call requested by Japan. The U.S. leader turns 79 on Saturday. Related coverage: Japan hopes for special treatment as Trump hints at auto tariff hike Trump says U.S. Steel controlled by him with "golden share" Japan PM hopes for progress in U.S. tariff talks, in no rush for deal
Nikkei Asia
6 hours ago
- Nikkei Asia
BOJ weighs slowing pace of tapering JGB purchases
TOKYO -- The Bank of Japan is considering slowing the pace of cuts in its government bond purchases from April 2026, as concerns grow over a rise in yields on superlong bonds. The central bank has reduced the pace of monthly Japanese government bond buying by 400 billion yen ($2.8 billion) every quarter since last summer in an effective shit to quantitative tightening. But in light of volatility in the bond market, the BOJ's policy board will discuss easing the pace of slowing to 200 billion yen per quarter.
Nikkei Asia
10 hours ago
- Nikkei Asia
Nippon Steel set to complete $14bn acquisition of U.S. Steel next week
SHOTARO TANI and NAOKI MATSUDA TOKYO -- U.S. President Donald Trump on Friday cancelled the decision by former President Joe Biden to block Nippon Steel's acquisition of U.S. Steel, paving the way for the Japanese company to finalize its takeover of its American counterpart. Nippon Steel is expected to complete the acquisition on Wednesday U.S. time, buying all U.S. Steel shares for $14.1 billion.
