In a significant political development, Japanese Prime Minister Shigeru Ishiba is expected to formally announce his resignation by the end of next month, according to a report published by the Mainichi newspaper on Wednesday.
Ishiba is facing growing opposition from within his Liberal Democratic Party for his vow to stay in power despite the ruling coalition’s bruising defeat in Sunday’s upper house election.
According to the Yomiuri daily, Ishiba told his close associates on Tuesday evening that he would explain how he would take responsibility for the election loss once a solution was reached on trade negotiations.
US-Japan Trade Deal
In a post on Truth Social posted on Wednesday Asian hours, US President Donald Trump said he had just completed a “massive” deal with Japan that included $550 billion in investments into the United States.
Speaking after Trump’s post, Ishiba said he was ready to meet or speak over the phone with Trump after being briefed on the details by Japan’s top trade negotiator Ryosei Akazawa, who has been in Washington for trade talks.
“I can’t say until I scrutinise the outcome of the agreement,” Ishiba told reporters when asked how the deal with Washington could affect his decision on whether to step down.
Ishiba To Meet Party Heavyweights
In explaining his decision to stay on, Ishiba has stressed the need to avoid creating a political vacuum as Japan faced challenges including difficult trade negotiations with the US that would have a huge impact on the export-reliant economy.
“I will stay in office and do everything in my power to chart a path toward resolving these challenges,” Ishiba said in a news conference on Monday, adding that he intended to speak directly with Trump as soon as possible and deliver tangible results.
Ishiba is expected to meet ruling party heavyweights later on Wednesday for discussions on the election outcome.
(With inputs from Reuters)
