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 $303.0 billion in 2019. Exports were $123.4 billion; imports were $179.6 billion. The U.S. goods and services trade deficit with Japan was $56.3 billion in 2019.
Japan is currently our 4th largest goods trading partner with $218.3 billion in total (two way) goods trade during 2019. Goods exports totaled $74.7 billion; goods imports totaled $143.6 billion. The U.S. goods trade deficit with Japan was $69.0 billion in 2019.
Trade in services with Japan (exports and imports) totaled an estimated $84.7 billion in 2019. Services exports were $48.7 billion; services imports were $36.0 billion. The U.S. services trade surplus with Japan was $12.7 billion in 2019.
- Japan was the United States' 4th largest goods export market in 2019.
- U.S. goods exports to Japan in 2019 were $74.7 billion, down 0.8% ($576 million) from 2018 but up 46% from 2009. U.S. exports to Japan account for 4.5% of overall U.S. exports in 2019.
- The top export categories (2-digit HS) in 2019 were: mineral fuels ($9.3 billion), aircraft ($8.8 billion), optical and medical instruments ($7.1 billion), machinery ($7.0 billion), and electrical machinery ($4.6 billion).
- U.S. total exports of agricultural products to Japan totaled $12 billion in 2019, our 4th largest agricultural export market. Leading domestic export categories include: corn ($2.0 billion), beef & beef products ($2.0 billion), pork & pork products ($1.5 billion), soybeans ($965 million), and wheat ($608 million).
- U.S. exports of services to Japan were an estimated $48.7 billion in 2019, 7.7% ($3.5 billion) more than 2018, but 28% greater than 2009 levels. Leading services exports from the U.S. to Japan were in the travel, transport, and intellectual property (trademarks and computer software) sectors.
- Japan was the United States' 4th largest supplier of goods imports in 2019.
- U.S. goods imports from Japan totaled $143.6 billion in 2019, up 0.9% ($1.2 billion) from 2018, and up 50% from 2009. U.S. imports from Japan account for 5.7% of overall U.S. imports in 2019.
- The top import categories (2-digit HS) in 2019 were: vehicles ($49 billion), machinery ($34 billion), electrical machinery ($17 billion), optical and medical instruments ($7.0 billion), and pharmaceuticals ($4.3 billion).
- U.S. total imports of agricultural products from Japan totaled $767 million in 2019. Leading categories include: wine and beer ($78 million), snack foods ($70 million), tea, including herbal ($63 million), other vegetable oils ($49 million), and processed fruit & vegetables ($35 million).
- U.S. imports of services from Japan were an estimated $36.0 billion in 2019, 3.6% ($1.3 billion) more than 2018, and 69% greater than 2009 levels. Leading services imports from Japan to the U.S. were in the intellectual property (industrial processes), transport, and travel sectors.
- The U.S. goods trade deficit with Japan was $69.0 billion in 2019, a 2.7% increase ($1.8 billion) over 2018.
- The United States had a services trade surplus of $12.7 billion with Japan in 2019, up 21.4% from 2018.
- U.S. foreign direct investment (FDI) in Japan (stock) was $125.5 billion in 2018 (latest data available), a 2.8% decrease from 2017. 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 $484.4 billion in 2018 (latest data available), up 3.3% from 2017. 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 $74.6 billion in 2017 (latest data available), while sales of services in the United States by majority Japan-owned firms were $165.1 billion.