Japan's exports fell in May for the first time in eight months as big automakers like Toyota were hit by sweeping U.S. tariffs, and the failure of the Asian nation to clinch a trade deal this week will likely pile pressure on its fragile economy.

Japan has reported its exports fell in May as shipments of autos to the U.S. dropped nearly 25% from a year earlier due to higher tariffs imposed by President Donald Trump

Prime Minister Shigeru Ishiba, speaking after the G7 summit in Canada, confirmed that negotiations with Washington had failed to yield a full tariff agreement.