Japan returns to trade deficit in May

Japan fell into a trade deficit in May as imports and exports lag in the world's third largest economyJapan fell into a trade deficit in May, the first since January, the finance ministry said Monday, as renewed yen strength pressured exports. Japanese exports fell for all major regions, including the nation’s biggest trading partner China, as concerns linger over a slowdown in the largest Asian economy as well as other emerging markets. The government of Prime Minister Shinzo Abe has actively attempted to talk down the yen’s strength, with ministers repeatedly suggesting that Tokyo could step into the market to weaken the currency, as they rush to safeguard the fragile economy ahead of a July parliamentary election.

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