Japan's Trade Deficit Hits Record High

0:00It's April 22nd. This is Canada News Today, local news powered by AI. Japan's trade deficit hit $1.7 trillion yen, about $10.7 billion for the fiscal year ending in March, marking the 5th, year in a row of shortfalls. Exports climb 4% overall, while imports barely nudged up half a percent, according to the finance ministry. U.S. tariffs under President Trump slammed Japan's shipments to America, dropping total exports there by 6.6% with car sales, plunging 16% and hurting big manufacturers. But things parked up in March, with the trade surplus jumping 26% year over year, as exports surged 11.7% and imports rose nearly 11%. Oil woes from Middle East tensions add pressure since Japan imports almost all its fuel, but with 254 days of reserves and new. Shipping routes in the works, officials are easing supplies to keep things steady.