Trade Deficits for Japan, Philippines Widen Amid AI Boom and Iran War
AI News Brief: Japan has posted a trade deficit for two consecutive months, while the Philippines’ monthly deficit continues to widen—Thursday’s data from both governments lays bare a divergence in Asia’s trade landscape. Rising crude oil prices are squeezing trade balances and currencies across multiple Asian economies, and the numbers show a clear split: some economies are riding tech export growth hard enough to offset the energy cost shock, while others can’t fully absorb it, and their trade deficits are widening as a result. Japan and the Philippines fall squarely in the latter camp—both saw their trade accounts deteriorate in June, reflecting the dual pressure on trade balances and local currencies from rising oil prices layered on top of uneven tech export momentum. The original summary does not provide specific deficit figures, year-over-year changes, or which tech export items are driving other Asian economies’ performance, so details will need to be verified against the original source.