On November 17, 2021, the United States and Japan announced the formation of the U.S.-Japan Partnership on Trade. For additional information click here.
On November 17, 2021, the United States, Japan, and the European Union agreed to renew their trilateral partnership to address the global challenges posed by non-market policies and practices of third countries. For additional information click here.
For information on the U.S.-Japan Trade Agreement negotiations, click here.
Japan Trade Summary
U.S. goods and services trade with Japan totaled an estimated $319.2 billion in 2024, up 4.0 percent ($12.2 billion) from 2023.
U.S. total goods trade (exports plus imports) with Japan was an estimated $227.3 billion in 2024. U.S. goods exports to the Japan in 2024 were $79.0 billion, up 4.2 percent ($3.2 billion) from 2023. U.S. goods imports from the Japan in 2024 totaled $148.4 billion, up 0.8 percent ($1.2 billion) from 2023. The U.S. goods trade deficit with Japan was $69.4 billion in 2024, a 2.8 percent decrease ($2.0 billion) over 2023.
U.S. total services trade (exports plus imports) with Japan totaled an estimated $91.8 billion in 2024. U.S. services exports to the Japan in 2024 were $49.4 billion, up 6.1 percent ($2.8 billion) from 2023. U.S. services imports from Japan in 2024 were $42.5 billion, up 13.3 percent ($5.0 billion) from 2023. The U.S. services trade surplus with Japan was $6.9 billion in 2024, a 23.6 percent decrease ($2.1 billion) over 2023.
