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Yahoo
7 hours ago
- Business
- Yahoo
Japan is facing slowing exports and trade deficit amid threat from Trump's tariffs
Japan sank into a trade deficit of 2.2 trillion yen (€13 billion) for the first six months of this year, according to government data released Thursday, as exports were hit by President Donald Trump's tariffs. In June, Japan's exports slipped 0.5% from a year earlier, following a 1.7% drop in May. Japan's exports to the US declined by 11% in June, with auto exports plunging 26.7%. (The US slapped car imports with a 25% tariff in April.) Shipments to China decreased by nearly 5%. Exports to Mexico, a major auto assembly hub for North America for Japanese automakers, fell nearly 20%. Trump has postponed implementing that higher import duty until 1 August, to allow time for negotiations, but so far no deal has been reached. Japan exports in June totalled nearly 9.2 trillion yen (€53 billion), in the second straight month of declines. As imports rose slightly by 0.2%, the trade surplus came in at 153 billion yen (just over €890 million), following a trade deficit in May amounting to 637.6 billion yen, or €3.7bn. Related Spain overtakes Japan in GDP per capita - what is behind the numbers? Nissan is closing flagship Oppama plant in Japan to cut costs In the first half of the year, Japan's exports totalled 53.4 trillion yen (€310bn), up 3.6%, while imports rose 1.3% to 55.6 trillion yen (€320bn). Japan and the US have been holding trade talks, with Japanese officials stressing that Japan is a key US ally. Customs data shows that, based on value, nearly one-fifth of all exports were heading to the US in 2024, making a trade deal crucial for the country's economy. Trump has focused on rice, a sector traditionally protected from foreign competition for the sake of Japan's food security. Japan imports more than 300,000 tons of rice a year from the US, according to various data, although some of that is used for animal feed. Japan will hold an election for the Upper House of Parliament on Sunday. Given falling public support for Prime Minister Shigeru Ishiba's administration, the conservative and pro-business ruling Liberal Democratic Party could lose its majority unless it gains another coalition partner. Japan's economy contracted in the first quarter of this year compared to the previous quarter, partly due to slowing exports. Following the latest export figures, concerns are mounting that the export-dependent Japanese economy is going to contract again in the second quarter, and the country will land in a recession. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Time of India
3 days ago
- Politics
- Time of India
VP Jagdeep Dhankhar resigns: A look back at India's Vice Presidents over the years
India's second-highest constitutional office has taken the spotlight, following the resignation of Vice President Jagdeep Dhankhar on Monday. His unexpected move brings renewed focus to the legacy of the Vice Presidency—a role that balances political stature with constitutional duty. As the ex-officio Chairman of the Rajya Sabha , the Vice President not only presides over the Upper House of Parliament but also plays a critical standby role to the President under Article 65 of the Indian Constitution. Explore courses from Top Institutes in Select a Course Category Cybersecurity Data Science Design Thinking PGDM Leadership Project Management MBA Finance Public Policy others Data Analytics Data Science Technology Artificial Intelligence Degree Healthcare Operations Management Digital Marketing CXO Others healthcare MCA Management Product Management Skills you'll gain: Duration: 10 Months MIT xPRO CERT-MIT xPRO PGC in Cybersecurity Starts on undefined Get Details In cases of resignation, death, removal, or incapacity of the President, it is the Vice President who steps in to discharge those responsibilities. Since the birth of the Republic, 13 individuals have served as Vice Presidents—many of whom later rose to the highest office in the land, or became enduring figures in Indian public life. A historical line of stature and service The story began with Dr. Sarvepalli Radhakrishnan , the scholar-statesman who became India's first Vice President in 1952. He served two terms before ascending to the Presidency in 1962. His legacy shaped the moral gravitas often associated with the role. Live Events He was succeeded by Dr. Zakir Hussain, another educationist who too would eventually become President. The early decades saw Vice Presidents who were often statesmen, legal scholars, or academics—adding intellectual heft to the position. V. V. Giri, who followed, held the role briefly before becoming acting President and eventually winning the Presidency in his own right—a rare trajectory in Indian politics. Names like B. D. Jatti, R. Venkataraman, Shankar Dayal Sharma, and K. R. Narayanan all passed through the Vice Presidency en route to greater national roles. In fact, Narayanan would later become India's first Dalit President. Also read: Who will become the next Vice President of India after Jagdeep Dhankhar's resignation? From moderators to political heavyweights As Indian politics matured, the Vice Presidency increasingly attracted seasoned political leaders. Bhairon Singh Shekhawat, a former Rajasthan chief minister, brought grassroots political experience to the role in the early 2000s. Mohammad Hamid Ansari, with a distinguished diplomatic career, brought continuity and calm during his two-term stint from 2007 to 2017, one of the longest in the office's history. M. Venkaiah Naidu, a stalwart of the BJP and known for his oratory, followed from 2017 to 2022. His tenure was marked by efforts to raise decorum in the Rajya Sabha and a focus on parliamentary productivity. Jagdeep Dhankhar's short but eventful tenure A former governor of West Bengal and senior advocate, Jagdeep Dhankhar assumed office in August 2022, bringing with him a mix of legal acumen and political grit. His tenure witnessed assertive chairmanship in the Rajya Sabha and frequent headlines over procedural clashes with Opposition leaders. His resignation, coming just three years into the role. Now, the government is expected to initiate the process for electing the next Vice President soon. Also read: Vice President Jagdeep Dhankhar resigns 'to prioritise health' as Monsoon Parliament session kicks off A critical Constitutional office The Vice Presidency may be viewed as largely ceremonial by some, but in moments of constitutional flux or parliamentary tension, the office emerges as a crucial balancing force. With each occupant bringing their own legacy, India's Vice Presidents have contributed in ways both visible and quiet—upholding democratic values and institutional integrity. As the nation awaits its 14th Vice President, the role's historical significance only deepens.
News18
3 days ago
- Politics
- News18
Jagdeep Dhankhar Resigns: What's Next, Who'll Chair Rajya Sabha, When Is The Next VP Election?
Vice President of India Jagdeep Dhankhar Resignation: VP Dhankhar resigned from his position on Monday, citing his health reasons. As Jagdeep Dhankhar suddenly resigned as the Vice President of India on Monday evening, Deputy Chairperson of the Rajya Sabha will step in as the Acting Chairperson of the Upper House of Parliament, as per the rules of the Constitution. Currently, the position is held by Harivansh Narayan Singh, who was appointed in August 2022. He will fulfil the role temporarily until the election of the next Vice President of India. According to the Constitution, the Vice President is the Chairman of the Rajya Sabha. What's Next After Jagdeep Dhankhar's Resignation? Process of Election Of Vice President A formal election to fill the vacancy must be held within 60 days of the resignation. The electorate comprises all members of both Houses of Parliament, using a proportional representation system via single transferable vote. The election of the Vice President must be held before September 19, 2025. The MPs will cast a single transferable vote with a secret ballot. A Returning Officer is appointed to oversee the process. Only Members of Parliament (MPs) can vote in the election of the Vice President – both from: Lok Sabha (Lower House) and Rajya Sabha (Upper House), including nominated members. The Members of the State Legislative Assemblies (MLAs) do not vote to elect the Vice President. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Japan Today
17-07-2025
- Automotive
- Japan Today
Japan racks up trade deficit amid threat from Trump's tariffs
A car, center, is moved to another location of the area where export vehicles are parked at Daikoku Pier in Yokohama on April 8. By YURI KAGEYAMA Japan sank into a trade deficit of 2.2 trillion yen ($15 billion) for the first six month of this year, according to government data released Thursday, as exports were hit by President Donald Trump's tariffs. In June, Japan's exports slipped 0.5% from a year earlier after its shipments of vehicles and other products were slapped with a 25% tariff. Trump has postponed implementing that higher import duty until Aug. 1, to allow time for negotiations but so far no deal has been reached. Exports in June totaled nearly 9.2 trillion yen ($62 billion), in the second straight month of declines. Imports in June rose 0.2% to 9 trillion yen ($61 billion), the Finance Ministry said. That left a trade surplus of 153 billion yen (just over $1 billion). The trade deficit in May was 637.6 billion yen, or $4.4 billion. Japan's exports to the United States fell 11% in June, with auto exports plunging 25%. Shipments to China decreased by nearly 5%. Exports to Mexico, a major auto assembly hub for North America for Japanese automakers, fell nearly 20%. In the first half of the year, Japan's exports totaled 53.4 trillion yen ($360 billion), up 3.6%, while imports rose 1.3% to 55.6 trillion yen ($375 billion). Japan and the U.S. have been holding trade talks, with Japanese officials stressing that Japan is a key U.S. ally. Trump has focused on rice, a sector traditionally protected from foreign competition for the sake of Japan's food security. Japan imports more than 300,000 tons of rice a year from the U.S., according to various data, although some of that is used for animal feed. Japan will hold an election for the Upper House of Parliament on Sunday. Given falling public support for Prime Minister Shigeru Ishiba's administration, the conservative and pro-business ruling Liberal Democratic Party could lose its majority unless it gains another coalition partner. Japan's economy contracted at an annual rate of 0.7% in the first quarter of this year compared to the previous quarter, partly due to slowing exports. © Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
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Business Standard
17-07-2025
- Business
- Business Standard
Japan racks up trade deficit amid threat from Donald Trump's tariffs
Japan sank into a trade deficit of 2.2 trillion yen ($15 billion) for the first six month of this year, according to government data released Thursday, as exports were hit by President Donald Trump's tariffs. In June, Japan's exports slipped 0.5 per cent from a year earlier after its shipments of vehicles and other products were slapped with a 25 per cent tariff. Trump has postponed implementing that higher import duty until Aug. 1, to allow time for negotiations but so far no deal has been reached. Exports in June totaled nearly 9.2 trillion yen ($62 billion), in the second straight month of declines. Imports in June rose 0.2 per cent to 9 trillion yen ($61 billion), the Finance Ministry said. That left a trade surplus of 153 billion yen (just over $1 billion). The trade deficit in May was 637.6 billion yen, or $4.4 billion. Japan's exports to the United States fell 11 per cent in June, with auto exports plunging 25 per cent. Shipments to China decreased by nearly 5 per cent. Exports to Mexico, a major auto assembly hub for North America for Japanese automakers, fell nearly 20 per cent. In the first half of the year, Japan's exports totalled 53.4 trillion yen ($360 billion), up 3.6 per cent, while imports rose 1.3 per cent to 55.6 trillion yen ($375 billion). Japan and the US have been holding trade talks, with Japanese officials stressing that Japan is a key US ally. Trump has focused on rice, a sector traditionally protected from foreign competition for the sake of Japan's food security. Japan imports more than 300,000 tons of rice a year from the US, according to various data, although some of that is used for animal feed. Japan will hold an election for the Upper House of Parliament on Sunday. Given falling public support for Prime Minister Shigeru Ishiba's administration, the conservative and pro-business ruling Liberal Democratic Party could lose its majority unless it gains another coalition partner. Japan's economy contracted at an annual rate of 0.7 per cent in the first quarter of this year compared to the previous quarter, partly due to slowing exports.
