Japan’s exports dropped 2.6% year over year in July, their steepest drop since February 2021. The fall was sharper than the 2.1% contraction expected by economists polled by Reuters and compared to the 0.5% drop seen in June. Imports to the world’s fourth-largest economy sank 7.5%, compared to the 10.4% fall expected by the Reuters poll. Exports to the U.S. also continued to fall, dropping 10.1% in July and slightly softer than June’s decline of 11.4%. Japan reached a deal with Washington on July 22 that saw its so-called “reciprocal tariff” lowered to 15% from the 25% threatened by U.S. President Donald Trump ... (full story)