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Yahoo
3 minutes ago
- Yahoo
Japan's Exports Fall as US Tariffs Stoke Recession Risks
(Bloomberg) -- Japan's exports fell for a second month as the US tariff campaign continued to weigh on trade, further raising the risk of a technical recession after the economy contracted at the start of the year. The Dutch Intersection Is Coming to Save Your Life Advocates Fear US Agents Are Using 'Wellness Checks' on Children as a Prelude to Arrests LA Homelessness Drops for Second Year Manhattan, Chicago Murder Rates Drop in 2025, Officials Say Exports measured by value dropped 0.5% in June from a year earlier, led by cars and steel, the Ministry of Finance reported Thursday. That missed the median analyst estimate of a 0.5% increase, and appeared to reflect the impact from the Trump administration's tariffs. Imports eked out a gain of 0.2%. Japan's trade balance returned to a surplus for the first time in three months, at ¥153.1 billion ($1 billion). The drop in exports add to concerns that Japan's economy could shrink again in the second quarter, ushering in a technical recession. Domestic consumption surged in May, but its sustainability remains unclear as inflation continues to outpace wage hikes. Exports to the US sank 11.4% while those to China declined 4.7% and shipments to Europe rose 3.6%. The yen averaged 144.04 against the US dollar in June, 8% stronger than a year earlier, according to the Finance Ministry. A stronger yen tends to cut the value of dollar-denominated trade figures when converted into the Japanese currency. Global commerce is facing high uncertainties amid the tariff war in which the Trump administration's threats and implementation of higher tariffs have so far resulted in few bilateral deals. Negotiations between the US and many nations including Japan are dragging out as countries find it difficult to come to an agreement. Tokyo has been hit by a 25% tariff on cars and car parts and a 50% levy on steel. Separately, in June it was also facing a 10% baseline tariff on all other shipments to the US. The across-the-board levy is set to rise to 25% on Aug. 1 barring a deal, slightly higher than the 24% originally set in April. (Updates with more details from the report.) How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All Forget DOGE. Musk Is Suddenly All In on AI How Hims Became the King of Knockoff Weight-Loss Drugs Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot The New Third Rail in Silicon Valley: Investing in Chinese AI ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
5 minutes ago
- Bloomberg
Stocks Shrug Off Powell Rumors
Bloomberg Television brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today's guests are Federal Reserve Former Vice Chair Lael Brainard, Citi's Scott Chronert, Baird's David George, Prologis's Hamid Moghadam, Tether's William Quigley, Envestnet's Dana D'Auria, BD8 Capital Partner's Darbara Doran, Former Fed Governor Betsy Duke, Raymond James' Sunaina Sinha, Recognize's Charles Phillips, Wedbush Securities' Alicia Reese. (Source: Bloomberg)
Bloomberg
35 minutes ago
- Bloomberg
Emerging Asian Bonds Gain Appeal as US Tariffs Cool Inflation
Demand for emerging Asia's local bonds may improve along with the regional inflation outlook, as US tariffs prompt manufacturers to look for customers closer to home. Focusing more on local production could contain inflationary pressures. That also comes at a time when the region's long-dated yields — adjusted for inflation — are above historical averages, according to data compiled by Bloomberg. Attractive valuations and subdued inflation are likely to boost the appeal of Asian fixed income.
