US Trade Deficit With Japan Totaled $68.94B in 2016

The U.S. goods trade deficit with Japan totaled $68.94 billion in 2016, outranking Germany for the second-largest figure among countries with which the United States generated a trade deficit, government data showed Tuesday.

Although the deficit with Japan was nearly flat from the 2015 level, U.S. President Donald Trump, given his recent remarks about U.S. trade partners, appears certain to step up criticism against Japan over the trade deficit with the country.

The release of the data comes as Trump and Japanese Prime Minister Shinzo Abe are scheduled to meet on Friday in Washington.

The U.S. goods trade deficit with China came to $347.04 billion in 2016, down 5.5 percent from a year earlier, the Commerce Department said.

While nearly half the U.S. trade deficit stems from China, Japan’s share stood at 9.4 percent in 2016, up 0.2 percentage point from 2015.

The deficit with Germany shrank 13.3 percent to $64.87 billion. The deficit with the European Union narrowed 5.9 percent to $146.34 billion.

via Mainichi

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza