TOKYO, July 23 – Following a crushing defeat in the upper house election, Japanese Prime Minister Shigeru Ishiba has conveyed to those around him his intention to announce his resignation by August, Mainichi newspaper revealed on Wednesday.
This came after the US and Japan struck a deal to lower the hefty tariffs Washington threatened to impose on goods from its Asian ally that included a pledge by Japan to invest $550 billion in the US.
Mainichi Shimbun disclosed on Wednesday that Ishiba has decided and informed those close to him that he intends to announce his resignation by August. On Wednesday, the Japanese prime minister held talks with LDP’s senior advisor Taro Aso, vice president Yoshihide Suga, and former prime minister Fumio Kishida, where discussions were believed to have centered on his political future.
However, according to the report, given the rising calls for his resignation and criticism within the party-although he initially expressed his intention to stay in office following the LDP’s crushing defeat in the upper house election on Sunday- the timing of his final decision could still change.
Mainichi Shimbun reported that, on Wednesday, when asked by reporters at the prime minister’s office about how the recently reached US-Japan tariff agreement – one of the reasons he had cited for staying in office – might affect his decision on whether to remain, Ishiba stated: “I cannot comment until we have thoroughly examined the details of the agreement.”
Reuters reported on Wednesday that the US and Japan struck a deal to lower the hefty tariffs Washington threatened to impose on goods from its Asian ally that included a pledge by Japan to invest $550 billion in the US.
The agreement – including a 15% tariff on all imported Japanese goods, down from a proposed 25% – is the most significant of the string of trade deals the White House has reached ahead of an approaching August 1 deadline for higher levies to kick in, Reuters noted.
On Monday, Ishiba had vowed to stay in office and ruled out expanding his ruling coalition – composed of the LDP and junior partner Komeito – at a news conference at the Tokyo headquarters of LDP to address issues stemming from the outcome of the July 20 poll.
Following losing control of the lower house in October, LDP’s defeat in upper house election marked the first time the party has lost a majority in both houses of parliament since the party’s foundation in 1955, according to multiple media outlets including AP and Reuters on Monday.
According to Asahi Shimbun on Monday, Ishiba acknowledged that voters had delivered an extremely harsh verdict, but pointed to pressing issues as reasons to stay on. He cited tariff negotiations with the US, as the August 1st deadline to reach a trade deal approaches. Other vital matters include rising consumer prices and the ever-present need to prepare for a natural disaster.
However, Taro Aso said he “couldn’t accept” Ishiba staying on as prime minister, The New York Times reported Monday citing Japanese media.
