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On September 26, 2018, President Trump and Prime Minister Abe announced that the United States and Japan would begin negotiations for a U.S.-Japan Trade Agreement. For further information on the negotiations, click here.
U.S.-Japan Economic Dialogue
On April 18, 2017, Vice President Mike Pence and Deputy Prime Minister Taro Aso met to launch the U.S.-Japan Economic Dialogue. Click here for further information.
U.S.-Japan Trade Facts
U.S. goods and services trade with Japan totaled an estimated $297.5 billion in 2018. Exports were $120.4 billion; imports were $177.1 billion. The U.S. goods and services trade deficit with Japan was $56.8 billion in 2018.
Japan is currently our 4th largest goods trading partner with $217.6 billion in total (two way) goods trade during 2018. Goods exports totaled $75.0 billion; goods imports totaled $142.6 billion. The U.S. goods trade deficit with Japan was $67.6 billion in 2018.
Trade in services with Japan (exports and imports) totaled an estimated $79.9 billion in 2018. Services exports were $45.4 billion; services imports were $34.5 billion. The U.S. services trade surplus with Japan was $10.9 billion in 2018.
- Japan was the United States' 4th largest goods export market in 2018.
- U.S. goods exports to Japan in 2018 were $75.0 billion, up 10.9% ($7.4 billion) from 2017 and up 15.1% from 2008. U.S. exports to Japan account for 4.5% of overall U.S. exports in 2018.
- The top export categories (2-digit HS) in 2018 were: mineral fuels ($8.8 billion), machinery ($8.2 billion), optical and medical instruments ($7.5 billion), aircraft ($6.5 billion), and electrical machinery ($4.8 billion).
- U.S. total exports of agricultural products to Japan totaled $13 billion in 2018, our 3rd largest agricultural export market. Leading domestic export categories include: corn ($2.8 billion), beef & beef products ($2.1 billion), pork & pork products ($1.6 billion), soybeans ($947 million), and wheat ($698 million).
- U.S. exports of services to Japan were an estimated $45.4 billion in 2018, 2.2% ($1.0 billion) less than 2017, but 14.2% greater than 2008 levels. Leading services exports from the U.S. to Japan were in the travel, transport, and intellectual property (industrial processes) sectors.
- Japan was the United States' 4th largest supplier of goods imports in 2018.
- U.S. goods imports from Japan totaled $142.6 billion in 2018, up 4.5% ($6.1 billion) from 2017, and up 2.4% from 2008. U.S. imports from Japan account for 5.6% of overall U.S. imports in 2018.
- The top import categories (2-digit HS) in 2018 were: vehicles ($51 billion), machinery ($32 billion), electrical machinery ($18 billion), optical and medical instruments ($7.1 billion), and aircraft ($4.2 billion).
- U.S. total imports of agricultural products from Japan totaled $725 million in 2018. Leading categories include: wine and beer ($72 million), snack foods ($65 million), tea, including herb ($64 million), other vegetable oils ($47 million), and processed fruit & vegetables ($34 million).
- U.S. imports of services from Japan were an estimated $34.5 billion in 2018, 4.4% ($1.5 billion) more than 2017, and 40.3% greater than 2008 levels. Leading services imports from Japan to the U.S. were in the intellectual property (computer software), transport, and travel sectors.
- The U.S. goods trade deficit with Japan was $67.6 billion in 2018, a 1.8% decrease ($1.2 billion) over 2017.
- The United States has a services trade surplus of an estimated $11 billion with Japan in 2018, down 18.7% from 2017.
- U.S. foreign direct investment (FDI) in Japan (stock) was $129.1 billion in 2017 (latest data available), a 3.6% increase from 2016. U.S. direct investment in Japan is led by finance and insurance, manufacturing, and information services.
- Japan's FDI in the United States (stock) was $469.0 billion in 2017 (latest data available), up 12.1% from 2016. Japan's direct investment in the U.S. is led by manufacturing, wholesale trade, and finance and insurance.
- Sales of services in Japan by majority U.S.-owned affiliates were $72.0 billion in 2016 (latest data available), while sales of services in the United States by majority Japan-owned firms were $158.6 billion.