Japan’s big seven automakers cut their global exports by 1.8% year over year in April despite a 4.9% increase in production. The latter will likely have dropped in May due to the coronation holiday, disrupting downstream supply chains. The slippage in exports was largely down to a 29.3% slump in shipments by Nissan, offset by an 8.5% surge from Toyota. Both face a disruption in their shipments to the U.S. as a result of forthcoming section 232 tariffs. That’s led Toyota in particular to be highly critical, stating the tariffs make it clear its “investments are not valued”....