There is a goods trade deficit with Japan because the U.S. imports more than it exports, which Trump views as a sign of unfairness in the trading arrangements. In 2024, federal trade data shows the U.S. goods trade deficit with Japan was $68.5 billion.

President Donald Trump on Monday began sending letters to dozens of countries around the world, informing them of what tariff rate imports from their countries to the U.S. will face