The nation’s overall trade deficit fell slightly-1.6 percent-in June, no thanks to Japan.
On the eve of another trade negotiating session with the Asian nation, the U.S. reported that its trade gap with Japan widened again, swelling 26 percent, to $5.52 billion. It unnerved the currency markets, again sending the dollar below 100 yen.
Japan, however, wasn’t alone. China recorded a $2.2 billion surplus, and Canada and the countries of Western Europe recorded a $1 billion surplus.
The Japanese Agriculture Ministry, however, decided it finally wanted to play ball and take a little heat off the government. It said it would lift its ban on American apples. The ministry’s refusal to allow apple imports had led to a major dispute between the two countries that lasted several years.
Japan’s apple market has theoretically been open to imports since 1971, but only small quantities from the Koreas and New Zealand have been admitted.
