Japan Faces Trade Uncertainty
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WASHINGTON -- The U.S.-Japan alliance has entered a period of uncertainty, American think tank analysts say, after Sunday's upper house Diet election resulted in Japan's ruling Liberal Democratic Party having lost its majority in both legislative chambers for the first time since its founding in 1955.
Japanese Prime Minister Shigeru Ishiba has vowed to remain in office, despite exit polls indicating that his Liberal Democratic Party's ruling coalition has lost its majority in the country's upper house.
TOKYO (Reuters) -Japan's top tariff negotiator, Ryosei Akazawa, said on Saturday he planned to visit Washington next week to hold further ministerial-level talks with the U.S. Tokyo is hoping to meet an August 1 deadline to reach a deal to avert President Donald Trump's tariff of 25% on imports from Japan.
Japan’s top trade negotiator Ryosei Akazawa said he’s aiming to visit Washington next week to continue efforts to win tariff concessions after talks on Saturday with US Treasury Secretary Scott Bessent didn’t touch on the issue.
Japan’s ruling coalition is likely to lose its majority in the upper house, exit polls showed after Sunday’s election, potentially heralding political turmoil as a tariff deadline with the United States looms.
Wall Street stocks gained ground on Monday, while Treasury yields softened at the top of a busy week of corporate earnings reports, as tariff negotiations between the U.S. and its trading partners ramped up in the face of a fast-approaching August 1 deadline.
In Japan, the ruling coalition lost control of the upper house in an election on Sunday, further weakening Prime Minister Shigeru Ishiba's grip on power as a tariff deadline looms
The decrease in exports was a reversal of the 0.5% rise expected by economists polled by Reuters, and comes amid a lack of a breakthrough in trade talks with the U.S.