Japan racks up $538M trade deficit in July as exports of chipmaking equipment plunge

Exports of Japanese cars helped fuel a massive 65% jump in Japan’s trade surplus with the United States in July but it was not enough to stop Japan opening up a $538 million overall trade gap with the rest of the world. File Photo by Mori Keizo/UPI | License Photo Aug. 17 (UPI) — Falling exports saw Japan open up a $538 million trade gap with the rest of the world in July, official figures out Thursday show, raising a question mark over whether the current red-hot pace of economic growth can be sustained. A sharp drop off in shipments…