Japan PM Shigeru Ishiba Denies Resignation, Says Focus Now on US Trade Deal

Japan PM Shigeru Ishiba Denies Resignation, Says Focus Now on US Trade Deal

[Music] [Applause] In the latest development, Japanese Prime Minister Shageru Ishiba has denied reports that he plans to resign. This comes amid intense speculation following a major election setback for his ruling party. Addressing the media, Ishiba made it clear he’s not stepping down. Instead, he says his focus is on a newly negotiated trade agreement with the United States. Over the weekend, Ishiba’s Liberal Democratic Party and its coalition partner Kito lost their majority in Japan’s upper house. The 248 member chamber of parliament. This follows an earlier loss of majority in the more powerful lower house last October. The ruling coalition now lacks control of both houses, crippling its legislative power. Reports suggested Ishiba might resign as early as the end of July after receiving a full briefing from his chief trade negotiator Riosi Akazoa. The Yomiri newspaper even published an extra addition claiming Ishiba would announce his exit soon to clear the way for a leadership contest, but she denied the claims, reiterating his commitment to the new tariff agreement with the US. The deal covers over 4,000 goods impacting a wide range of Japanese industries. President Donald Trump on Tuesday, July 22nd, said the US and Japan had struck a trade deal that includes a 15% tariff that will be levied on US imports from the country. In a post on Truth Social, Trump said the deal would include $550 billion of Japanese investments in the United States. He also said that Japan would increase market access to American producers of cars, trucks, rice, and certain agricultural products among other items. Under the deal, tariffs on Japanese cars exported to the US dropped from 25% to 15%. Ishiba called the agreement a win for both countries, promising more jobs and investment. Trump. On Wednesday, Ishiba met party veterans including former PMs Taro Asso, Fumio Kishida, and Yoshihida Suga. He said there was no talk of resignation, only a frank review of the election results. Discontent over rising prices and stagnant wages fueled the backlash. Many young voters felt ignored and shifted support to right-wing populist parties like Sensito and the Democratic Party for the people. While opposition parties haven’t proposed a full alliance, they’ve signaled openness to working with the ruling block on certain policy issues. For now, Ishiba says he will examine the US trade deal closely and declined to comment on when or if he will step aside. Will Ashiba manage to hold on to power or is a leadership change inevitable? Stay with us as we track Japan’s evolving political drama. And don’t forget to subscribe to the Indian Express for more such updates. [Music]

US Japan Trade Deal: Japanese Prime Minister Shigeru Ishiba has shot down widespread rumours of his resignation following a major electoral setback. With his party losing its upper house majority, speculation has been rife that Ishiba might step down. But the PM insists he is staying focused—especially on a crucial trade deal with the United States, which lowers tariffs on over 4,000 goods, including Japanese cars. In this video, we unpack what Ishiba said, the political crisis brewing in Japan, and what this U.S. trade pact means for global markets. Stay tuned as we break it all down.

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