Japan recorded a trade deficit in its March-April fiscal year but racked up a surplus with the U.S., the Finance Ministry reported Thursday. Japan’s global trade deficit totaled 5.2 trillion yen ($37 billion) for the fiscal year through March,

The escalating trade war between the U.S. and China was center stage early Thursday. Potential tariff deals with other countries, including Japan, moved forward boosting market sentiment. China said it will ignore President Donald Trump’s tariff numbers game after a White House fact sheet showed Beijing faces levies of up 245% due to its retaliatory actions.

After Jerome H. Powell’s warning on tariffs, the president posted on Truth Social that the Federal Reserve chairman’s “termination cannot come fast enough!”