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NHK
5 days ago
- Business
- NHK
Japan PM Ishiba meets other party leaders to explain US tariff deal
Japan's Prime Minister Ishiba Shigeru has told leaders of the ruling and opposition parties that the country's tariff deal with the United States was reached in a way that meets the national interests of both sides. The party leaders met on Friday morning. The participants alongside Ishiba were: Noda Yoshihiko of Constitutional Democratic Party of Japan, Maehara Seiji of Japan Innovation Party, Tamaki Yuichiro of Democratic Party for the People, Saito Tetsuo of Komeito, Kamiya Sohei of Sanseito, Oishi Akiko of Reiwa Shinsengumi and Tamura Tomoko of Japanese Communist Party. Ishiba said at the start of the meeting that since he made a proposal to US President Donald Trump in February, the Japanese side consistently called strongly for US officials to prioritize investment over tariffs. The prime minister went on to say that this has resulted in an agreement that meets the national interests of Japan and the US while protecting what needs to be protected. He noted that he received various opinions at the three previous meetings of party leaders, and expressed gratitude for their suggestions. Ishiba is believed to have explained the contents of the deal with the US, expressed intent to take all possible measures to support domestic industries, such as consultations on financing, and asked for the leaders' cooperation.
The Mainichi
5 days ago
- Business
- The Mainichi
Japan PM vows 'steady' implementation of US tariff deal
TOKYO (Kyodo) -- Prime Minister Shigeru Ishiba said Friday he wants to oversee the "steady" implementation of a recently clinched trade deal with the United States as the embattled leader met with opposition leaders amid pressure from inside his own party to resign. Yuichiro Tamaki, head of the Democratic Party for the People, told reporters after the meeting that Ishiba seemed to show a "strong desire" to stay on as premier to see the agreement take effect despite the dismal outcome for the prime minister's ruling coalition in Sunday's upper house election. Some opposition party leaders, meanwhile, said Ishiba failed to allay their concerns about the agreement and the fact that it has not yet been put into writing. The leaders' talks, lasting more than an hour at the Diet, were the first since Japan and the United States clinched the trade agreement in Washington on Tuesday, days after the House of Councillors election. "My worries instead deepened," Tamaki said after the meeting. "We don't know whether the negative impact on the economy and companies can be minimized with the deal." The trade agreement sets 15 percent auto and "reciprocal" tariffs on Japan, lower than U.S. President Donald Trump had envisioned. It also includes a scheme for $550 billion worth of Japanese investment in the United States. "We have come to an agreement with the United States that protects the national interests of both nations," Ishiba told his fellow party leaders at the Diet. The tariff deal, after rounds of talks at the ministerial and summit levels, came at a sensitive time for Ishiba, with his Liberal Democratic Party suffering its worst election performance in years and the ruling camp including its junior coalition partner, Komeito, now left without majority control of both houses of parliament. He has so far sought to brush aside calls from some LDP members to step down, saying that he should tackle the challenges facing the country. The lowering of the auto and reciprocal tariffs to 15 percent from a combined 27.5 percent and a proposed country-specific 25 percent, respectively, gave some relief to Japanese automakers and other exporters, lifting Japanese share prices. A day after the deal was announced, however, the United States said Japan will buy $8 billion in U.S. farm and food goods, such as corn, soybeans, fertilizer and bioethanol. It also said the Asian ally will increase purchases of U.S.-made commercial aircraft, including 100 Boeing planes, and defense equipment worth "additional billions of dollars annually." Japanese government officials have said there is no discrepancy between the two nations regarding the agreement. At a government task force meeting earlier in the day, Ishiba instructed officials to take all possible steps to cope with the impact of the U.S. tariffs, which economists expect will still slow the export-driven economy. Yoshihiko Noda, head of the largest opposition Constitutional Democratic Party of Japan, said the tariff agreement should be formalized in writing at a bilateral summit. Speaking to reporters, he also revealed that he stressed the need for the government to draw up an economic package to address the tariff fallout. Ishiba did not make any mention of compiling a supplementary budget for the current fiscal year through next March or whether he will step down or not, according to Noda.
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First Post
23-07-2025
- Politics
- First Post
Japanese PM Ishiba vows to stay on despite election loss, pledges to prioritise new US tariff pact
Despite his business-as-usual demeanour, Ishiba is under increasing pressure to resign after the LDP and junior coalition partner Komeito lost their majority in Sunday's election in Japan's 248-member upper house, shattering his grip on power read more Prime Minister Shigeru Ishiba promised on Wednesday to remain in power to supervise the implementation of a new Japan-US tariff pact, amid media speculation and rising calls for his resignation following his governing party's historic setback. At party headquarters, Ishiba met with senior members of his Liberal Democratic Party (LDP), as well as former Prime Ministers Taro Aso, Fumio Kishida, and Yoshihide Suga. He later told reporters that they did not discuss his resignation or a new party leadership contest, but rather the election results, voter dissatisfaction, and the urgent need to avoid party discord. STORY CONTINUES BELOW THIS AD Despite his business-as-usual demeanour, Ishiba is under increasing pressure to resign after the LDP and junior coalition partner Komeito lost their majority in Sunday's election in Japan's 248-member upper house, the smaller and less powerful of Japan's two chambers of parliament, shattering his grip on power. It followed a defeat in the more powerful lower house in October, and his coalition now lacks a majority in both chambers of parliament, making it much more difficult for his administration to adopt programs and exacerbating Japan's political instability. Despite calls from within and beyond his party for his resignation, Ishiba says he plans to remain on to address important issues, such as tariff discussions with the United States, in order to avoid creating a political vacuum. Ishiba 'keeps saying he is staying on. What was the public's verdict in the election all about?' said Yuichiro Tamaki, head of the surging Democratic Party for the People, or DPP. At the LDP, a group of younger lawmakers led by Yasutaka Nakasone started a petition drive seeking Ishiba's early resignation and renewal of party leadership. 'We all have a sense of crisis and think the election results were ultimatum from the voters,' he said. Japanese media reported that Ishiba is expected to soon announce plans to step down in August. STORY CONTINUES BELOW THIS AD The conservative Yomiuri newspaper said in an extra edition on Wednesday that Ishiba had decided to announce his resignation by the end of July after receiving a detailed report from his chief trade negotiator, Ryosei Akazawa, on the impact of the US tariffs on the Japanese economy, paving the way for a new party leader. Ishiba denied the report and said that he wants to focus on the US trade deal, which covers more than 4,000 goods affecting many Japanese producers and industries. He welcomed the new agreement, which places tariffs at 15% on Japanese cars and other goods imported into the US from Japan, down from the initial 25%. Still, local media are already speculating about possible successors. Among them are ultraconservative former Economic Security Minister Sanae Takaichi, who lost to Ishiba in September. Another conservative ex-minister, Takayuki Kobayashi, and Agriculture Minister Shinjiro Koizumi, the son of former popular Prime Minister Junichiro Koizumi, are also seen as potential challengers. STORY CONTINUES BELOW THIS AD In Sunday's election, voters frustrated with price increases exceeding the pace of wage hikes, especially younger people who have long felt ignored by the ruling government's focus on senior voters, rapidly turned to the emerging conservative DPP and right-wing populist Sanseito party. None of the opposition parties have shown interest in forming a full-fledged alliance with the governing coalition, but they have said they are open to cooperating on policy. People expressed mixed reaction to Ishiba, as his days seem to be numbered. Kentaro Nakamura, 53, said that he thought it's time for Ishiba to go, because he lacked consistency and did poorly in the election. 'The (election) result was so bad and I thought it would not be appropriate for him to stay on,' Nakamura said. 'I thought it was just a matter of time.' But Isamu Kawana, a Tokyo resident in his 70s, was more sympathetic and said if it wasn't Ishiba who was elected prime minister last year, the result would have been the same. STORY CONTINUES BELOW THIS AD 'I think he got the short end of the stick,' Kawana said.
1News
23-07-2025
- Business
- 1News
Japan's Ishiba to decide on resignation over election loss
Japanese Prime Minister Shigeru Ishiba said he will make a decision on resigning over a historic defeat of his ruling party in a weekend election after closely studying the tariff deal just struck with the United States. Ishiba has been under growing pressure to step down as his ruling Liberal Democratic Party and its junior coalition partner, Komeito, lost their majority in the 248-member upper house, the smaller and less powerful of Japan's two-chamber parliament on Sunday, shaking his grip on power and Japan's political stability. The loss means Ishiba's ruling coalition, which also lost a majority in the more powerful lower house in October, now lacks a majority in both houses of parliament, making it even more difficult for his government to achieve any policy goals and worsening Japan's political instability. Ishiba had announced his intention Monday to stay on to tackle pressing challenges, including tariff talks with the US, without creating a political vacuum, sparking calls from inside and outside his own party for a quick resignation to respond to the election results. With the tariff deal with the US paving the way for his possible departure, Japanese media said he is expected to soon announce plans to step down in August. ADVERTISEMENT Ishiba welcomed the trade agreement today, which places a 15% tax on Japanese cars and other goods imported into the US from Japan, down from the initial 25%, saying it was a product of tough negotiations to protect the national interest and that it would help benefit both sides as they work together to create more jobs and investment. But Ishiba declined to comment on his possible move and only told reporters that he has to closely examine the trade deal first. In Sunday's election, voters frustrated with price increases exceeding the pace of wage hikes, especially younger people who have long felt ignored by the ruling government's focus on senior voters, rapidly turned to emerging conservative and rightwing populist parties, like the Democratic Party for the People and Sanseito. None of the opposition parties have shown interest in forming a full-fledged alliance with the governing coalition but they have said they are open to cooperating on policy.
The Hindu
23-07-2025
- Business
- The Hindu
Will decide on resignation over election loss after studying U.S. tariff deal: Japan's Shigeru Ishiba
Japanese Prime Minister Shigeru Ishiba said he will make a decision on resigning over a historic defeat of his ruling party in a weekend election after closely studying the tariff deal just struck with the United States. Mr. Ishiba has been under mounting pressure to step down as his ruling Liberal Democratic Party and its junior coalition partner Komeito lost their majority in the 248-member upper house, the smaller and less powerful of Japan's two-chamber Parliament on Sunday (July 20, 2025), shaking his grip on power and Japan's political stability. The loss means Mr. Ishiba's ruling coalition, which also lost a majority in the more powerful lower house in October, now lacks a majority in both houses of Parliament, making it even more difficult for his government to achieve any policy goals and worsening Japan's political instability. Mr. Ishiba had announced his intention on Monday (July 21, 20250 to stay on to tackle pressing challenges, including tariff talks with the U.S., without creating a political vacuum, sparking calls from inside and outside his own party for a quick resignation to respond to the election results. With the tariff deal with the U.S. paving the way for his possible departure, Japanese media said he is expected to soon announce plans to step down in August. Also read: Threatened by President Donald Trump's tariffs, Japan walks delicate tightrope between U.S. and China Mr. Ishiba welcomed the trade agreement on Wednesday (July 23, 2025), which places a 15% tax on Japanese cars and other goods imported into the U.S. from Japan, down from the initial 25%, saying it was a product of tough negotiations to protect the national interest and that it would help benefit both sides as they work together to create more jobs and investment. But Mr. Ishiba declined to comment on his possible move and only told reporters that he has to closely examine the trade deal first. In Sunday's election (July 20, 2025), voters frustrated with price increases exceeding the pace of wage hikes, especially younger people who have long felt ignored by the ruling government's focus on senior voters, rapidly turned to emerging conservative and rightwing populist parties, such as the Democratic Party for the People and Sanseito. None of the Opposition parties have shown interest in forming a full-fledged alliance with the governing coalition but they have said they are open to cooperating on policy.
