TOKYO (AP) — Japan's exports rose 4.2% in September, government data showed Wednesday, as strong shipments to Asia offset declines in U.S. exports hit by President Donald Trump's tariffs.
Japan's exports to Asia jumped 9.2% last month from the same period a year earlier, according to Japan's Finance Ministry.
Exports to the United States fell 13.3%, marking the sixth straight month of year-on-year decline, while exports to China rose 5.8% from a year ago.
US vehicle shipments fell 24.2% in September. Automakers such as Toyota Motor Corp. are pillars of Japan's economy.
Japan's overall imports rose 3.3% in September and Asia's imports rose 6%, including a 9.8% rise in imports from China.
The findings come a day after Sanae Takaichi was elected prime minister in a parliamentary vote, becoming the first woman to lead Japan.
She is known for her nationalist-conservative views but is also seen as a supporter of increased government spending, which has driven up Tokyo stock prices in recent sessions.
Takaichi also promised higher wages as well as looser monetary policy that would contribute to a weaker Japanese yen. This would be a boon for the country's largest exporters, as it would increase the value of overseas earnings when converted into yen.
Takaichi faces an uphill battle to implement his policies because the ruling Liberal Democratic Party, even with coalition partners, does not have a majority in either house of parliament. Her own party remains divided.
Trump, who is expected to visit Japan later this month to meet with Takaichi, announced a trade deal with Japan in July that would impose a 15% tax on Japanese goods.
At the time, Japan promised to invest $550 billion in the United States and open its economy to American cars and rice. The 15% tax on imported Japanese goods was a significant reduction from the 25% rate Trump had previously announced.
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