Japan exports sink on weaker trade with China, US

Japan exports sink on weaker trade with China, US
In this July 8, 2019, photo, Honda cars, foreground, for export park at Yokohama port, near of Tokyo in Tokyo. Japan’s exports fell 12 percent in August from a year earlier as it logged a second straight month of deficits as the toll from trade tensions between its two largest markets deepened.(AP Photo/Koji Sasahara)

TOKYO (AP) — Japan’s exports fell 8% in August from a year earlier, as trade tensions took a growing toll on demand across the region.

Exports of machinery, vehicles and chemicals all declined, the Finance Ministry reported Wednesday.

Imports slipped 12%, at the fastest rate in almost three years, suggesting slack demand inside Japan. Shipments to the U.S. slipped 4%, while those to China sank 12%.

Overall, export volumes fell nearly 6% and import volumes also fell by 6% as trade tensions between the U.S. and China and between Japan and South Korea reverberated across supply chains

A government survey of businesses released Wednesday showed sentiment at its worst since the aftermath of the March 2011 earthquake and tsunami which devastated a swathe of Japan’s northeastern coast.

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This story has been corrected to show that exports fell 8%.