Japan's exports dip as US tariffs hit autos

JAPAN'S EXPORTS FELL for a second straight month as sweeping US tariffs took a toll on the country's manufacturers, with its fragile economy exposed to greater risks from the global trade war in coming months.

- REUTERS

Japan failed to clinch a deal with the US before the July 9 expiration of the temporary pause on the country-specific tariffs after it focused on eliminating the existing sectoral 25% tariffs on automobiles, a mainstay of the export-reliant economy. Washington now plans to impose tariffs of 25% on Japanese imports, unless a trade deal is struck by August 1.