Japan’s international trade activity fell 3.4% year over year in September, including a 5.2% drop in exports which was slightly faster than the prior three month average of 5.0%. Trade with the U.S. has been a major driver with an 8.0% drop in exports compared to 4.4% in August. That increases the urgency in passing the “mini deal” reached with the U.S., though the agreement only covers a limited range of Japanese capital goods exports. Worsened relations with South Korea, including the bilateral withdrawal of trusted trader status, have led to a 13.3% drop in export...