Trump, Japan
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Investors, finally having some good news, seemed to largely ignore thorny questions about the details of the trade deal, let alone the tenuous position of Prime Minister Shigeru Ishiba following a recent election setback.
As President Donald Trump’s tariffs add to a sense of uncertainty in Japan, the Sanseito party and its leader Sohei Kamiya made gains on a “Japanese first” platform.
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Japanese Prime Minister Shigeru Ishiba has vowed to remain in power to oversee the implementation of a new Japan-U.S. tariff agreement.
(Reuters) -An emerging U.S.-Japanese trade deal could unlock major investment, avert a potential shock to the global economy and may deliver political wins for both U.S. President Donald Trump and Japanese Prime Minister Shigeru Ishiba, though many specifics of the agreement remain unclear.
Shigeru Ishiba denied he had decided to quit after a source and media reports said he planned to announce his resignation to take responsibility for a bruising upper house election defeat.
The LDP’s historic electoral fall exposes a fractured Japan, where public disillusionment, economic woes and rising populism are reshaping the political landscape.
As part of a trade deal reached this week, Japan agreed to invest $550 billion in projects across strategic U.S. industries, including energy, semiconductor manufacturing and shipbuilding. The White House said Trump would have final say over where the money goes and that the U.S. would keep 90% of profits on any investments.
The reports come after Trump announced a trade deal with Japan, and days after Ishiba’s governing coalition lost its majority in the country’s upper house.