Japan’s exports to the United States, its largest single trading partner, fell nearly 2% in April as tariff hikes imposed by President Donald Trump hit home. Globally, exports rose just 2% year-on-year,

Japan's exports to the U.S. dropped 1.8% in April from a year earlier, reflecting weaker demand for cars and machinery including chip-making machines. Read more:

Japanese exports rose 2% in April from a year earlier but shipments to the U.S. fell 1.8%, data from the Ministry of Finance showed on Wednesday.

Honda Motor said on Tuesday that it was scaling back its investment in electric vehicles given slowing demand and would be focusing on hybrids, now far more in favour, with a slew of revamped models.

Japanese carmaker Honda Motor announced on Tuesday that it is realigning its automobile strategy, lowering its planned electric vehicle (EV) sales targets and reducing investment in EV development in response to a recent market slowdown.

Honda Motor (NYSE:HMC) said on Tuesday that it was scaling back its investment in electric vehicles due to weakening demand and would instead shift focus toward meeting rising demand for hybrid models with new offerings.