Ishiba Orders Support for Smaller Businesses in Face of U.S. Tariffs; Informs Party Leaders of Deal's Details
Earlier on Friday, Ishiba instructed relevant ministers to devise support measures for small and midsize enterprises in the face of U.S. tariffs, at a meeting of the comprehensive response headquarters for U.S. tariffs at the Prime Minister's Office.
'We were able to reach an agreement that allows both Japan and the United States to secure their national interests, while still protecting what needed to be protected,' Ishiba said at the beginning of the meeting with the party leaders.
The prime minister reportedly sought understanding for the agreement from the leaders, namely the heads of ruling coalition partner Komeito, the Constitutional Democratic Party of Japan, the Japan Innovation Party, the Democratic Party for the People, Reiwa Shinsengumi, the Japanese Communist Party and Sanseito. The meeting lasted about 70 minutes.
To try to alleviate the impact of new U.S. tariffs on Japan's economy, Ishiba told ministers to ensure that small and midsize companies receive aid through support offices that have been set up at about 1,000 locations nationwide. This aid includes financing and help retaining employees.
U.S. Treasury Secretary Scott Bessent has warned that Washington will review its tariffs on Japan if it thinks the country is not fulfilling the agreement. Consequently, Ishiba also told the ministers to manage implementation of the agreement.
At the meeting of the comprehensive response headquarters, Ishiba stressed the significance of the deal. 'The agreement is extremely important for ensuring Japan's economic security and economic growth going forward,' he said, adding, 'I will work to implement the agreement and further develop Japan-U.S. relations in every area.'
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