Japan's Exports and Trade Balance Expanded In March, U.S. Trade Negotiations In Focus

Akira Ito
17 Apr, 2025
Tokyo

Stock market indexes in Tokyo advanced, erasing losses from the previous session as investors reacted to the latest international trade data and comments from the Fed Chair. 

The Nikkei 225 Stock Average advanced 1%, and the broader TOPIX edged up 1.1%. 

Investors pinned their hopes on the positive outcome of trade negotiations with the Trump administration, and Japan's chief negotiator, Ryosei Akazawa, is looking to lower tariffs. 

The U.S. placed 10% minimum tariffs and halted additional 24% tariffs on all Japanese goods and 25% on Japanese vehicles for 90 days. 

Akazawa is hoping to avert most of the tariffs and provide concessions for the U.S. imports in exchange, but few details have emerged so far.  

On the economic front, Japan's exports rose less than expected, but imports rebounded in March, indicating sustained domestic demand. 

Japan's exports rose 3.9% to 9.85 trillion yen, sharply lower than the 11.5% increase in the previous month, as importers front-loaded ahead of the U.S. steel and aluminum tariffs. 

Machinery exports increased 3.4%, transportation equipment advanced 3.8%, and chemical shipments gained 3.7%. 

Exports to the U.S. increased 3.1%, to Hong Kong jumped 19.7%, Taiwan 19.5%, South Korea 11.5%, and India added 14.4%. 

However, exports to China declined 4.8%, surged to Russia by 47%, but fell to the EU by 1.1%. 

Imports edged up 2% to 9.3 trillion yen, recovering from the 0.7% decline in the previous month, according to the Ministry of Finance. 

Imports rose from China by 15.9%, Taiwan by 3.0%, South Korea by 2.5%, India by 16.0%, and the EU countries by 1.1%. 

Goods arriving from the ASEAN countries also advanced by 10.5%, notably from Thailand by 9.9% and Malaysia by 13.4%.

Japan's trade surplus expanded to 544.1 billion in March from 349.9 billion in the same month a year earlier. 

 

Japan Indexes and Stocks 

The Nikkei 225 Stock Average rose 1% to 34,254.82, and the broader TOPIX index advanced 1.1% to 2,523.49. 

Toyota Motor Corp. decreased 0.02% to ¥2,498.50, Honda Motor Corp. increased 2% to ¥1,385.50, and Nissan Motor edged up 0.2% to ¥316.70. 

Semiconductor equipment makers were in focus after the U.S. placed additional restrictions on the sale of advanced chips to China. 

Tokyo Electron declined 0.4% to ¥19,605.0, Advantest Corp. rose 3.4% to ¥5,597.0, Disco Corp. rose 1.8% to ¥26,465.0, and Lasertec Corp. jumped 3.9% to ¥12,365.0.