美国关税影响加剧，日本出口额出现4年来最大跌幅

Group 1 - Japan's exports in July experienced a year-on-year decline of 2.6%, marking the largest monthly drop since February 2021, and exceeding market expectations of a 2.1% decline [1][2] - Exports to the United States fell by 10.1% in July, with the automotive sector seeing a significant decrease of 28.4% and auto parts down by 17.4% [2] - Despite a 3.2% drop in the volume of automobile exports to the U.S., Japanese automakers managed to maintain shipment levels by absorbing some of the tariff costs [2] Group 2 - Japan's imports in July decreased by 7.5%, which was better than the market forecast of a 10.4% decline, resulting in a trade deficit of 117.5 billion yen (approximately 5.73 billion RMB) [2] - The trade agreement reached in late July between Japan and the U.S. reduced tariffs from 25% to 15%, alleviating some uncertainty for the Japanese economy [3] - The Bank of Japan may consider resuming interest rate hikes as early as October due to the reduced uncertainty from the trade agreement [3]