Japan’s international trade growth of 9% in July represented the 20th straight month of growth, due in large part to a rebound in imports to 15% from 3%. More importantly though exports slowed to 4% – the weakest since March – from 7%. A reversal in fortunes for the transportation sector, including a 3% slide in cars, can be blamed but was offset by stronger commodity exports such as fuel (43%) and steel despite the imposition of American duties on the latter. That said a 5% slide in exports to the U.S. could be a sign of what is to come if talks between Minister Motegi an...