Japan, Philippines Agree to Negotiate Security Cooperation Agreement; ‘Quasi-Ally' Relationship Eyed
The Yomiuri Shimbun
Prime Minister Shigeru Ishiba and Philippine President Ferdinand Marcos Jr. shake hands after the joint press conference in Manila on Tuesday.
MANILA – Japan and the Philippines agreed on Tuesday to start negotiations on an Acquisition and Cross-Servicing Agreement (ACSA) to enable the Self-Defense Forces and the Filipino military to provide each other with commodities such as foodstuff and fuel.
Prime Minister Shigeru Ishiba and Philippine President Ferdinand Marcos Jr. met at the presidential palace in Manila and talked for about one and a half hours. They agreed to establish a 'quasi-ally' relationship through the deepening of security cooperation, with China's increasingly hegemonic moves in mind.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yomiuri Shimbun
4 hours ago
- Yomiuri Shimbun
‘Golden Share' Served as Solution in Trump's Approval of U.S. Steel Acquisition; Solution Found but Challenges Remain
The Yomiuri Shimbun U.S. President Donald Trump speaks at a U.S. Steel Corp. steel plant in Pennsylvania on May 30. With U.S. President Donald Trump having approved a partnership between Nippon Steel Corp. and U.S. Steel Corp., the Japanese company's acquisition of U.S. Steel is expected to be realized. The Trump administration appears to have concluded that by signing a national security agreement with Nippon Steel and acquiring a 'golden share' in U.S. Steel the administration can contain opposition from hard-liners who support an 'America First' policy. Eighteen months after the plan was announced, negotiations between Japan and the United States over the acquisition, a development that escalated into a diplomatic issue, are set to conclude. Change of mind Trump, who views the steel industry as a critical sector directly linked to national security, has referred to U.S. Steel — once the world's largest steel manufacturer — as a 'symbol of America' and had opposed Nippon Steel's bid to acquire it. What prompted Trump to change his mind were Nippon Steel's proposed additional investments and the Japanese company's measures to mitigate security threats. Nippon Steel increased the amount it would invest in the U.S. company after acquiring it from $2.7 billion to $14 billion (about ¥2 trillion). It is also believed that Nippon Steel promised that the majority of U.S. Steel's board members would be U.S. nationals and that the company's production capacity would not be reduced. In response to these proposals, local lawmakers and other interested parties in Pennsylvania, where U.S. Steel is headquartered, moved to persuade Trump, apparently by pointing out the economic benefits of the acquisition, such as employment and plant modernization. In addition, key U.S. Cabinet members including Treasury Secretary Scott Bessent — who also chairs the Committee on Foreign Investment in the United States, whose duties include reviewing foreign acquisitions — and Commerce Secretary Howard Lutnick are said to have urged Trump to approve the acquisition. Trump himself began to judge that Nippon Steel's huge investment would benefit his administration and leaned toward approving the acquisition. Political risk However, the acquisition could give the impression to the American people that a symbolic U.S. company is being sold to a foreign company, which would pose a significant political risk for Trump. Even within his administration, senior officials who support his 'America First' policy position opposed the acquisition. Avoiding backlash from his supporters was also necessary with the 2026 midterm elections in mind. As negotiations between the Japanese and U.S. steel companies progressed behind the scenes, there emerged the idea of issuing a golden share to the U.S. administration to grant it veto power over important management decisions. According to sources, the initial U.S. plan was to approve the acquisition on the condition that a national security agreement was signed, but in the final stages of the negotiations, the U.S. side demanded a golden share. Trump apparently judged that acquiring a golden share in U.S. Steel as a symbol of 'U.S. control' would help persuade opponents of the acquisition and gain the understanding of Trump's supporters. The executive order that Trump signed Friday also made no mention of the fact that U.S. Steel would come under foreign ownership. Intentions of both sides It can be said the golden share proposal led Trump to be able to successfully utilize Nippon Steel's financial strength and technological capabilities without compromising his 'America First' policy stance. Meanwhile, Nippon Steel has concluded that the golden share provides no voting rights and is largely symbolic, so the U.S. administration's influence on management and investment decisions will be limited. 'We will have 100% of the voting rights in U.S. Steel, so management freedom will be maintained,' a senior Nippon Steel executive said. Nippon Steel has previously insisted that 100% ownership of shares is a prerequisite for major investments, and the U.S. government has also refused to compromise over 'U.S. control.' Amid conflicting interests between the two parties, the idea of a golden share ultimately served as a solution, but challenges remain.
5 hours ago
Ishiba Leaves for Canada for G-7 Summit
News from Japan Politics Jun 15, 2025 23:55 (JST) Tokyo, June 15 (Jiji Press)--Japanese Prime Minister Shigeru Ishiba left for Kananaskis, western Canada, on Sunday for a summit of leaders from the Group of Seven leading industrialized countries set for Monday and Tuesday. Ishiba, the leader of the only G-7 member in Asia, plans to stress the need to keep vigilant on China's increased military activities in discussions on the Indo-Pacific. Speaking to reporters at his official residence before departure, Ishiba said, "I want to speak frankly about the increasingly severe international situation, the global economy, security and emerging technologies." Referring to a planned meeting with U.S. President Donald Trump on the sidelines of the G-7 summit, Ishiba said, "I'll make every effort to reach an agreement that benefits both Japan and the United States" in tariff negotiations. Ishiba also plans to meet with Canadian Prime Minister Mark Carney, South Korean President Lee Jae-myung and Ukrainian President Volodymyr Zelenskyy separately. [Copyright The Jiji Press, Ltd.] Jiji Press
Kyodo News
11 hours ago
- Kyodo News
Ishiba Cabinet support rate rises to 37%, most back rice policy shift
KYODO NEWS - 4 minutes ago - 17:40 | All, Japan The approval rating for Japanese Prime Minister Shigeru Ishiba's Cabinet rose to 37.0 percent from 31.7 percent in May, a Kyodo News survey showed Sunday, with most expressing support for a shift away from the government's long-standing policy of curbing rice production. In the two-day telephone poll conducted from Saturday, 88.5 percent of respondents said they support revising the government's farming policy on the country's staple to boost production, as rice prices remain near record highs amid ongoing shortages. Only 7.6 percent were opposed. Still, 56.9 percent said the government's response to rising rice prices is insufficient, while 36.6 percent said it is sufficient. The poll found that the disapproval rating for the Ishiba Cabinet stood at 48.4 percent, down from 52.6 percent in the previous survey. Some 54.9 percent oppose the ruling Liberal Democratic Party's plan to include cash handouts in its campaign pledges for the upcoming House of Councillors election to ease the impact of inflation. Related coverage: Japan PM pledges to boost ties with key partner South Korea under Lee Japan PM sacks farm minister over controversial gifted rice gaffe Japan to cut energy, electricity costs amid inflation: PM
