Japan recorded a trade deficit of 2.76 trillion yen ($18 billion) in January, the Finance Ministry reported Wednesday, as worries continue to grow about looming tariffs from the administration of U.S.

Japan's exports rose for a fourth consecutive month in January led by auto shipments to the United States, but if U.S. President Donald Trump goes through with a plan to impose hefty car tariffs, a sharp drop-off is likely.

Imports surged 16.7%, led by communication machinery and computers, and beat the median estimate. Japan’s trade balance swung back into the red, with a deficit of ¥2.76 trillion ($18.2 billion), the largest in two years.