Summary
Japan's Prime Minister Shigeru Ishiba announced he will resign after his party suffered a significant defeat in the July parliamentary elections. Ishiba cited the need to take responsibility for the loss and explained that his resignation comes after reaching an agreement on U.S. tariffs. He will remain in office until a new leader is elected.
Key Facts
- Shigeru Ishiba became Japan's Prime Minister in October.
- He announced his resignation following his party's loss in the July parliamentary elections.
- Ishiba's party wanted him to take responsibility for this election loss.
- Ishiba prioritized completing U.S. tariff negotiations before resigning.
- The U.S. agreed to lower tariffs on Japanese cars from 25% to 15%.
- Ishiba's resignation prevents a possible no-confidence motion within his party.
- A leadership vote to select his successor is expected in October.
- Ishiba's coalition lost its majority in both the upper and lower houses of parliament.
