TOKYO — U.S. President Donald Trump has suggested that Japan can buy a “lot of” U.S. oil to narrow the trade imbalance between the two countries, as they reach an impasse in negotiations ahead of a fast-approaching deadline. But that is easier said than done.
On paper, Tokyo can erase its entire trade surplus with the U.S. if it imports all of its crude oil needs from the world’s biggest economy. Japan imported around $75 billion worth of crude in the year ended in March 2025, some $10 billion more than its trade surplus with the U.S. of $62 billion.
