logo
#IshibaDon'tQuit: Unlikely Support Grows for Japanese PM Ishiba To Stay

#IshibaDon'tQuit: Unlikely Support Grows for Japanese PM Ishiba To Stay

NDTV3 days ago
Japanese Prime Minister Shigeru Ishiba's future is uncertain but an unlikely campaign for him to stay was growing online this week, including from people who are his natural political opponents.
The life raft has emerged since upper house elections on Sunday deprived Ishiba's coalition of an upper house majority, months after it suffered a similar disaster in the lower chamber.
Despite Ishiba, 68, insisting that he has not discussed his resignation with members of his Liberal Democratic Party (LDP), multiple reports say that it is just a matter of time.
Some conservative members of the LDP are collecting signatures to hold a special meeting to discuss a leadership election to oust Ishiba, Fuji TV reported on Friday.
One reported signee is Sanae Takaichi, a hardline nationalist and onetime heavy metal drummer who lost a leadership contest to Ishiba in September.
Takaichi, 64, would likely run again to lead the party -- and become Japan's first woman prime minister if she wins -- if Ishiba does depart.
The prospect of someone as premier with hawkish views on Japanese history and China has fuelled online calls for the moderate Ishiba to remain in power under the hashtag "#Ishiba Don't quit".
Some of the calls came from opposition politicians to the left of the LDP, including even from a Communist Party member of a local ward assembly.
Ishiba "is the most reasonable LDP leader in recent memory", LaSalle Ishii, a newly elected lawmaker for the Social Democratic Party, said on X.
"If he resigns, a far-right government will be born," the well-known comedian and voice actor said.
Taro Yamamoto, the leader of small opposition party Reiwa Shinsengumi, was among the first to voice concern about Ishiba's replacement.
"The question is, if he were not to continue, who is going to replace him instead?" he told reporters during a Monday news conference.
"His economic policies are no good, but for Ishiba-san to continue, I think it's a safe choice."
A rally is also planned for Friday evening in front of the prime minister's office to urge him to stay, although it was uncertain how many would attend.
Boomeranging tariffs
Shortly after the Sunday election, a Kyodo News survey put the approval rating for the Ishiba government at just 22.9 percent.
But in that same poll, 45.8 percent of the public believed there was no need for him to resign.
The LDP has governed almost non-stop since 1955, but voters have been deserting the party, including towards fringe groups like the "Japanese first" Sanseito.
Factors include rising prices, notably for rice, falling living standards, and anger at corruption scandals within the LDP.
The opposition is seen as too fragmented to form an alternative government.
But being in a minority in both houses of parliament means Ishiba's coalition needs support from other parties to pass legislation.
This comes just as Japan faces multiple challenges including a ballooning social security budget to pay pensions for its rapidly ageing and shrinking population.
A new trade deal announced this week with US President Donald Trump will see Japanese imports face a painful 15 percent tariff, although this was lower than a threatened 25 percent.
"We'll evaluate it every quarter, and if the president is unhappy then they will boomerang back to the 25 percent tariff rates," US Treasury Secretary Scott Bessent said afterwards.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Stock futures rise as Trump, EU reach tariff deal
Stock futures rise as Trump, EU reach tariff deal

Economic Times

time4 hours ago

  • Economic Times

Stock futures rise as Trump, EU reach tariff deal

Stock-index futures climbed after the European Union struck a deal with President Donald Trump that will see the bloc face 15% tariffs on most exports, averting a potentially damaging trade war. ADVERTISEMENT S&P 500 contracts rose 0.4% and those for European stocks jumped 1%. The euro was slightly stronger against the dollar after the US-EU deal. Asian shares fluctuated at the open as Japanese equities declined 0.4%. Treasuries dipped slightly with yields on the 10-year gaining one basis point to 4.4%. Gold edged lower and oil was marginally higher. Investors are bracing for a busy week of data - including meetings of the Federal Reserve and the Bank of Japan - and earnings from megacap companies that could set the tone for the rest of the year in markets and the economy. Stocks have risen from their slump in April as investors speculate the US will strike trade deals with countries and that will help avoid significant damage to company earnings and the global economy. 'A US trade deal with the EU sets the markets up for a positive start to the week, although market participants also confront one of the busiest weeks on the economic calendar for the year,' wrote Kyle Rodda, a senior market analyst at in and European Commission President Ursula von der Leyen announced the EU deal on Sunday at his golf club in Turnberry, Scotland, although they didn't disclose the full details of the pact or release any written hard-fought deal will see the bloc face 15% tariffs on most of its exports, including automobiles, staving off a trade war that could have delivered a hammer blow to the global economy. ADVERTISEMENT Meanwhile, the US and China are expected to extend their tariff truce by another three months, the South China Morning Post reported. The report comes ahead of trade talks between US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng in Stockholm on in Asia, Japanese Prime Minister Shigeru Ishiba signaled he intended to stay in office despite a growing number of calls within the ruling party for him to step down. Later in the week, the Bank of Japan is set to keep interest rates unchanged with traders on alert for any signs of future guidance by the central bank. ADVERTISEMENT This week will also bring a US jobs report, while Magnificent Seven members Apple Inc., Inc., Microsoft Corp. and Meta Platforms Inc. are all due to report numbers. Robust corporate earnings have bolstered investor confidence in US stocks, as companies head for their highest share of beats since the second quarter of in trade deals, positive economic data and corporate resilience have offset worries that stocks are overheating. More than 80% of S&P 500 companies have exceeded profit estimates, according to data compiled by Bloomberg Intelligence. ADVERTISEMENT However, the risk of a bubble in stock markets is rising as monetary policy loosens alongside an easing in financial regulation, according to Bank of America Corp.'s Michael geopolitical news, Thailand and Cambodia are set to hold talks Monday to discuss an end to their deadly border clashes after US President Donald Trump warned Washington wouldn't make a trade deal with either country while the conflict continued. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)

Trade deal struck: 15% tariff on EU goods entering US
Trade deal struck: 15% tariff on EU goods entering US

Time of India

time5 hours ago

  • Time of India

Trade deal struck: 15% tariff on EU goods entering US

The European Union and the US agreed on Sunday to a broad-brush trade deal that sets a 15% tariff on most goods, including cars, President Trump announced, at least temporarily bringing an end to months of tense negotiations with a bloc that is the US' single biggest source of imports. Trump said that the EU had agreed to purchase $750 billion of American energy and to increase its investment in the US by more than $600 billion above current levels. He also said that the EU would buy military equipment and that no tariffs would be imposed on some goods. Trump implied that the 50% tariff he had imposed on steel and aluminum globally would remain as is, saying it's a "worldwide thing that stays the way it is. " Other details of the pact were not immediately available. The agreement will "rebalance, but enable trade on both sides," Ursula von der Leyen, the president of the European Commission, the executive arm of the EU, said as she sat next to Trump as the leaders made the announcement. "We made it," Trump said. Though the agreement appears to be a preliminary one that leaves many questions to be resolved, it could bring a measure of calm to one of the world's most important economic relationships and allay fears of an escalating trade war. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Stylish New Mobility Scooters Available for Seniors (Prices May Surprise You) Mobility Scooter | Search Ads Search Now Undo The EU last year accounted for nearly $610 billion of the $3.3 trillion in goods imported by the US. The tariff rate is higher than the 10% tax that Europeans had been angling for, and that Trump applied to British goods. But 15% mirrors the main tariff rate of the US-Japanese trade agreement that was announced last Tuesday, and is lower than the 19 and 20% rates imposed on several Southeast Asian countries. The deal followed weeks of unpredictable talks. Even after that announcement, von Der Leyen stressed the importance of continuing talks and trying to reach a negotiated deal. But the EU also continued working to put the finishing touches on a plan to retaliate against Trump's tariffs, one that could be enacted quickly if needed. Bringing down the tariff on European auto exports was a sticking point for the Europeans, especially Germany, the largest EU economy. European automakers, which sent cars worth 38.5 billion euros ($45bn) to the US last year, have been suffering under the 27.5% tariffs imposed by Trump in April. Pharmaceutical tariffs were another key issue. the US threatened last month that it could raise tariffs on pharma - Europe's largest export to the US - to 200%. Such a high tax would have been crushing for the industry. The govts did not clarify what would happen to tariffs on pharmaceuticals.

Japan PM Shigeru Ishiba signals he'll stay amid resignation calls
Japan PM Shigeru Ishiba signals he'll stay amid resignation calls

Time of India

time10 hours ago

  • Time of India

Japan PM Shigeru Ishiba signals he'll stay amid resignation calls

Japanese PM Shigeru Ishiba signalled he intends to stay in office despite a growing number of calls within the ruling party for him to step down after an election setback last week. "I intend to devote myself to the people and the future of the country," Ishiba said in an interview with national broadcaster NHK. He added he must take responsibility for implementing the recently announced US-Japan trade deal , and that the real work on it starts now. He is set to speak at a meeting of Liberal Democratic Party lawmakers on Monday. Party members have been calling on someone to take responsibility for the July 20 elections that saw the LDP lose its majority in Japan's upper house elections. It marks the first time since 1955 that a leader from the storied Japanese party will govern the country without a majority in at least one of the legislative bodies. Explore courses from Top Institutes in Please select course: Select a Course Category Data Science Public Policy Others Cybersecurity CXO healthcare Design Thinking MBA PGDM Management Technology Finance Data Science Leadership Product Management Operations Management MCA others Data Analytics Project Management Healthcare Degree Artificial Intelligence Digital Marketing Skills you'll gain: Duration: 10 Months E&ICT Academy, Indian Institute of Technology Guwahati CERT-IITG Prof Cert in DS & BA with GenAI India Starts on undefined Get Details Skills you'll gain: Duration: 30 Weeks IIM Kozhikode SEPO - IIMK-AI for Senior Executives India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK DABS India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months E&ICT Academy, Indian Institute of Technology Guwahati CERT-IITG Postgraduate Cert in AI and ML India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months IIT Madras CERT-IITM Advanced Cert Prog in AI and ML India Starts on undefined Get Details Former foreign minister Toshimitsu Motegi called for a leadership change within the LDP on his Youtube channel over the weekend. Local media reported last week that Ishiba was set to resign, but the prime minister denied the news shortly afterward. Asked by NHK if he had second thoughts about his decision to continue in office, Ishiba said no. Economic Times WhatsApp channel )

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store