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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 $283.6 billion in 2017. Exports were $114.0 billion; imports were $169.5 billion. The U.S. goods and services trade deficit with Japan was $55.5 billion in 2017.
Japan is currently our 4th largest goods trading partner with $204.1 billion in total (two way) goods trade during 2017. Goods exports totaled $67.6 billion; goods imports totaled $136.5 billion. The U.S. goods trade deficit with Japan was $68.9 billion in 2017.
Trade in services with Japan (exports and imports) totaled an estimated $79.5 billion in 2017. Services exports were $46.4 billion; services imports were $33.1 billion. The U.S. services trade surplus with Japan was $13.4 billion in 2017.
Japan was the United States' 4th largest goods export market in 2017.
U.S. goods exports to Japan in 2017 were $67.6 billion, up 6.9% ($4.4 billion) from 2016 and up 10.5% from 2007. U.S. exports to Japan account for 4.4% of overall U.S. exports in 2017.
The top export categories (2-digit HS) in 2017 were: machinery ($7.5 billion), optical and medical instruments ($7.0 billion), aircraft ($6.5 billion), mineral fuels ($5.5 billion), and electrical machinery ($4.9 billion).
U.S. total exports of agricultural products to Japan totaled $12 billion in 2017, our 4th largest agricultural export market. Leading domestic export categories include: corn ($2.1 billion), beef & beef products ($1.9 billion), pork & pork products ($1.6 billion), soybeans ($974 million), and wheat ($713 million).
U.S. exports of services to Japan were an estimated $46.4 billion in 2017, 3.1% ($1.4 billion) more than 2016, and 22.3% greater than 2007 levels. Leading services exports from the U.S. to Japan were in the travel, transportation, and intellectual property (industrial processes) sectors
Japan was the United States' 4th largest supplier of goods imports in 2017.
U.S. goods imports from Japan totaled $136.5 billion in 2017, up 3.4% ($4.5 billion) from 2016, but down 6.2% from 2007. U.S. imports from Japan account for 5.8% of overall U.S. imports in 2017.
The top import categories (2-digit HS) in 2017 were: vehicles ($51 billion), machinery ($31 billion), electrical machinery ($17 billion), optical and medical instruments ($6.7 billion), and aircraft ($4.0 billion).
U.S. total imports of agricultural products from Japan totaled $645 million in 2017. Leading categories include: wine and beer ($66 million), snack foods ($59 million), tea, incl herb ($53 million), other vegetable oils ($44 million), and processed fruit & vegetables ($31 million).
U.S. imports of services from Japan were an estimated $33.1 billion in 2017, 6.4% ($2.0 billion) more than 2016, and 35.7% greater than 2007 levels. Leading services imports from Japan to the U.S. were in the intellectual property (ENTER TOP), transportation, and travel sectors.
The U.S. goods trade deficit with Japan was $68.9 billion in 2017, a 0.1% increase ($71 million) over 2016.
The United States has a services trade surplus of an estimated $13.4 billion with Japan in 2017, up 1.6% from 2016.
U.S. foreign direct investment (FDI) in Japan (stock) was $129.1 billion in 2017, 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, 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 $68.8 billion in 2015 (latest data available), while sales of services in the United States by majority Japan-owned firms were $152.8 billion.