Japanese Trade Policy and Structural Adjustment

Abstract The strong competitive power of Japan’s export products is attracting world-wide attention. This is mainly due to the favourable trade balance and the recent sharp increase in Japan’s foreign exchange reserves, tendencies being particularly remarkable in relation to Japan’s trade with the U.S. and the ECAFE areas. In view of this situation, it is expected that Japan’s future trade policy, both with respect to horizontal trade with industrialized countries and to vertical trade with developing countries, should clearly be focused on opening the Japanese market and increasing imports.