Japan PM faces 'Japanese-first' populist challenge in upper house election
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Wall Street Journal
3 hours ago
- Wall Street Journal
The Price of Winning the Trade War
The trade deal President Trump announced with Japan Tuesday evening is good news—in the narrow sense that it defuses what could have been an extended tariff war with America's most important ally in Asia. But if this is winning a trade war, we'd hate to see what losing looks like. Mr. Trump hailed the pact with characteristic modesty as 'perhaps the largest Deal ever made.' Details remain sparse, but the core appears to be a Japanese commitment to invest $550 billion in the U.S. while reducing barriers to imports of American agricultural products such as rice. In exchange, Mr. Trump will reduce his 'reciprocal' tariffs on Japan to 15% from 25%—including, apparently, on autos. The new tariff rate is good news only as relief from 25%. This is still a 15% tax increase on imports from Japan. And don't believe the White House spin that Japanese exporters will pay this tax. They might absorb some of it, depending on the product and the competition. But American businesses and consumers will pay more too and thus be either less competitive or have a lower standard of living. That $550 billion in new Japanese investment also sounds better than it may be once we know the details. Japanese Prime Minister Shigeru Ishiba suggested Tokyo will offer government loans and guarantees to support these 'investments,' with the aim 'to build resilient supply chains in key sectors.'
CNN
7 hours ago
- CNN
What to expect from DOJ meeting with Ghislaine Maxwell
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Washington Post
7 hours ago
- Washington Post
Democratic Gov. Tony Evers says he won't seek third term in battleground Wisconsin
MADISON, Wis. — Wisconsin's Democratic governor, Tony Evers, announced Thursday that he will not seek a third term in 2026, creating the first open race for governor in the battleground state in 16 years. It will be Wisconsin's highest profile race next year, as Democrats also angle to take control of the Legislature thanks to redrawn election maps that are friendlier to the party. They are also targeting two congressional districts as Democrats nationwide try to retake the House.
