Japanese PM Ishiba Weighs Resignation After Major Electoral Defeat

Tokyo, Jul 23 (AP) Japanese Prime Minister Shigeru Ishiba is contemplating his resignation after a significant electoral setback for his ruling party in recent elections. He stated that a decision will be made following a careful review of the recent trade agreement with the United States.

The defeat has intensified pressure on Ishiba to step down as the ruling Liberal Democratic Party, along with its junior coalition partner Komeito, lost their majority in the 248-member upper house of Japan’s two-chamber parliament. This loss shakes Ishiba's hold on power and contributes to Japan's political uncertainty.

Having already lost their majority in the more influential lower house last October, Ishiba's ruling coalition now lacks a majority in both parliamentary houses, further impeding his government from advancing policy objectives and exacerbating Japan's political instability.

Initially, Ishiba expressed his determination on Monday to remain in office to address urgent issues such as the tariff negotiations with the US. However, this stance led to calls from various quarters, including within his party, urging a swift resignation in response to the electoral outcome.

With the new tariff deal potentially signaling his impending resignation, Japanese media reports suggest that Ishiba is likely to announce his plans to step down in August.

Ishiba has lauded the trade agreement unveiled on Wednesday, which reduces the tax on Japanese cars and other goods imported into the US from 25% to 15%. He described the negotiations as rigorous and protective of national interests, asserting that this agreement would foster mutual job creation and investment.

However, Ishiba refrained from commenting on his potential resignation, indicating that his focus remains on thoroughly evaluating the implications of the trade deal.

Discontentment among voters, particularly younger individuals facing stagnant wage growth amidst rising prices, has led them to explore emerging conservative and rightwing populist parties such as the Democratic Party for the People and Sanseito during Sunday's election.

While none of the opposition parties have shown interest in a formal alliance with the governing coalition, they have expressed willingness to collaborate on policy matters. (AP) NSA NSA

(Only the headline of this report may have been reworked by Editorji; the rest of the content is auto-generated from a syndicated feed.)