logo
Shigeru Ishiba, Japan's Rapidly Diminishing PM

Shigeru Ishiba, Japan's Rapidly Diminishing PM

Shigeru Ishiba likes the nitty gritty of policy and making military models, but his dream job as Japanese prime minister looked at risk of coming unstuck on Sunday.
According to media projections after elections, Ishiba's coalition was projected to have lost its majority in the upper house, a result that might push him to resign.
Late on Sunday, he was tight-lipped about his future.
"It's a difficult situation, and we have to take it very humbly and seriously," Ishiba told broadcaster NHK.
"We can't do anything until we see the final results, but we want to be very aware of our responsibility," Ishiba added.
The Liberal Democratic Party (LDP) has governed Japan almost continuously since 1955, but whether anyone wants to replace Ishiba is another matter.
"I wonder who else wants the job," Masahisa Endo, politics professor at Waseda University, told AFP before the election result.
Ishiba, 68, a self-confessed defence "geek", is the son of a regional governor and is from Japan's small Christian minority.
Seen as a safe pair of hands, he won the party leadership in September, on his fifth try, to become the LDP's 10th separate prime minister since 2000, all of them men.
Ishiba pledged to "create a new Japan" and revitalise depressed rural regions, and to address the "quiet emergency" of Japan's shrinking population.
He immediately called lower house elections for October but that backfired spectactularly, with the LDP suffering its worst result in 15 years.
That robbed the LDP and its coalition party Komeito of their majority, forcing them to bargain with opposition parties to pass legislation.
Ishiba's policies on bringing down inflation and spurring growth have "flip-flopped", Stefan Angrick at Moody's Analytics said last week.
The government "boxed itself in, promising only some belated and half-hearted financial support that will do little to improve the demand outlook," Angrick said.
The government's popularity ratings have plummeted, with voters angry about price rises, especially for rice that is twice as expensive as a year ago.
Ishiba, the father of two daughters, also appointed only two women to his cabinet, down from five under predecessor Fumio Kishida.
Ishiba's sometimes clumsy ways -- ranging from the less-than-perfectly tidy arrangement of his tuxedo to his table manners -- have also been rich fodder for social media memes.
He drew ridicule after being snapped apparently napping in parliament and for failing to stand up to greet other world leaders at a gathering in South America.
Worse was a video that emerged of Ishiba eating an onigiri rice ball -- a popular snack -- whole and munching on it without closing his mouth.
"He eats like a three-year-old," wroter one user on social media platform X.
A major challenge has been dealing with US President Donald Trump, who has imposed painful tariffs on Japanese cars, steel and aluminium.
Further levies of 25 percent on other Japanese imports -- up from 10 percent currently -- will come into force on August 1 if there is no trade agreement.
Ishiba secured an early invitation to the White House in February and has sent his tariffs envoy to Washington seven times, but there has been no deal yet.
Then-premier Shinzo Abe -- dubbed a "Trump whisperer" -- fared better during Trump's first term, managing to shield Japan from any tariffs.
Abe, who was assassinated in 2022, gifted Trump a gold-coloured golf club and was a frequent guest of the US president.
According to Trump, Abe even nominated him for the Nobel prize. "There will never be another like him," he said after Abe's death. Japanese Prime Minister Shigeru Ishiba's government has seen plummeting approval ratings, with voters angered by price rises AFP Japan's Prime Minister Shigeru Ishiba appointed only two women to his cabinet, down from five under predecessor Fumio Kishida AFP
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

ICC Convicts Pair Over Central Africa War Crimes
ICC Convicts Pair Over Central Africa War Crimes

Int'l Business Times

time17 hours ago

  • Int'l Business Times

ICC Convicts Pair Over Central Africa War Crimes

The International Criminal Court Thursday convicted a former top Central African Republic football official and a militiaman nicknamed Rambo for multiple war crimes committed during the country's civil war in 2013 and 2014. Ex-sports minister Patrice-Edouard Ngaissona was a senior leader of mainly Christian militias as the country slid into civil war, while Alfred Yekatom, a former MP, commanded them on the ground. The ICC sentenced Yekatom to 15 years behind bars for 20 war crimes and crimes against humanity including murder and torture. Ngaissona received a sentence of 12 years for 28 counts of war crimes and crimes against humanity. Their militia, known as anti-Balaka or "anti-machete", were formed as vigilante self-defence groups after mainly Muslim rebels called the Seleka stormed the capital Bangui and removed then-president Francois Bozize, a Christian. Presiding judge Bertram Schmitt read harrowing details of the violence committed by the militia against suspected Seleka Muslims. Yekatom's men tortured one suspect by cutting off his fingers, toes, and one ear. This man's body was never found. Others were killed and then mutilated. Appearing in court dressed in a light brown suit and waistcoat, white shirt, and dark tie, Yekatom listened impassively as the judge read out the verdict. Dressed in a bright blue jacket, Ngaissona nodded to the judge as his sentence was delivered. The court found Yekatom not guilty of conscripting child soldiers and acquitted Ngaissona of the charge of rape. Both men had pleaded not guilty to all charges. Yekatom was extradited to The Hague in late 2018, after being arrested in the CAR for firing his gun in parliament. Ngaissona was arrested in France in December 2018 and extradited to The Hague. At the time he was head of the CAR football association and a board member of the Confederation of African Football (CAF). The Central African Republic is among the poorest nations in the world and has endured a succession of civil wars and authoritarian governments since independence in 1960. Violence has subsided in recent years but fighting occasionally erupts in remote regions between rebels and the national army, which is backed by Russian mercenaries and Rwandan troops. Set up in 2002, the ICC is the world's only independent tribunal capable of prosecuting those accused of the world's worst crimes.

Asian Markets Extend Gains On US Trade Deal Hopes
Asian Markets Extend Gains On US Trade Deal Hopes

Int'l Business Times

timea day ago

  • Int'l Business Times

Asian Markets Extend Gains On US Trade Deal Hopes

Asian markets extended the week's gains Thursday on optimism other countries will follow up Japan's US trade deal with ones of their own, with speculation building that the European Union is on course. Investors have been on a roll in recent weeks on bets that governments will eventually hammer out pacts with Donald Trump ahead of the US president's August 1 deadline. The mood has been upbeat since news that Japan had reached a deal to lower sweeping tariffs from 25 percent to 15 percent, including those on the country's crucial car sector. The breakthrough fanned hopes that others were in the pipeline. However, there is talk that the European Union is edging towards an agreement. Reports say Brussels could get something similar to Japan, with tariffs cut to 15 percent -- from the threatened 30 percent. The Financial Times said the two would waive tariffs on some products, including aircraft, spirits and medical devices. That came after US Treasury Secretary Scott Bessent said negotiations were making progress, with talks planned later in the day between the bloc's top trade negotiator and his American counterpart. Analysts said a deal with Washington's biggest trading entity would provide a massive boost to equities However, failure to reach a deal, triggering Trump's 30 percent levies on August 1, could cause havoc on markets, analysts warned. France has been loudest in insisting Brussels must show it is willing to deploy its trade weapon, known as the anti-coercion instrument -- allowing officials to take measures such as import and export restrictions on goods and services. Neil Wilson at Saxo Markets warned that would end up "effectively killing trade between the two... the nuclear option is on the table it seems, but for the moment expectation seems to be veering towards a deal". After another record day for the S&P 500 and Nasdaq on Wall Street, Asia picked up the baton and ran. Tokyo piled on two percent, having jumped more than three percent Wednesday on the trade deal, while Hong Kong continued its standout year with another advance. Shanghai, Seoul, Singapore, Wellington, Taipei and Manila also rose. Traders are also keeping an eye on developments in Tokyo after Japanese Prime Minister Shigeru Ishiba denied discussing his resignation with party elders on Wednesday, as speculation about his future intensified following a weekend election debacle. Despite the saga, the yen extended its gains, briefly hitting 145.86 per dollar as the trade deal allows investors to turn their attention to the Bank of Japan's policy meeting next week hoping for guidance on its next interest rate hike. The unit had been sitting around 147.90 before the deal. Bank officials have held off rocking the boat on the issue amid tariff uncertainty, but observers say the agreement can allow them to reconsider lifting in October. Tokyo - Nikkei 225: UP 2.0 percent at 41,983.50 (break) Hong Kong - Hang Seng Index: UP 0.3 percent at 25,606.58 Shanghai - Composite: UP 0.2 percent at 3,588.11 Dollar/yen: DOWN at 146.06 yen from 146.47 yen on Wednesday Euro/dollar: DOWN at $1.1772 from $1.1777 Pound/dollar: UP at $1.3582 from $1.3579 Euro/pound: DOWN at 86.66 pence from 86.68 pence West Texas Intermediate: UP 0.3 percent at $65.47 per barrel Brent North Sea Crude: UP 0.3 percent at $68.71 per barrel New York - Dow: UP 1.1 percent at 45,010.29 (close) London - FTSE 100: UP 0.4 percent at 9,061.49 (close)

US-EU Tariff Talks Progress As Trump Announces Japan Deal
US-EU Tariff Talks Progress As Trump Announces Japan Deal

Int'l Business Times

timea day ago

  • Int'l Business Times

US-EU Tariff Talks Progress As Trump Announces Japan Deal

United States and European officials signaled progress in tariff talks Wednesday, after US President Donald Trump announced a pact with Japan and China said its vice premier would attend bilateral negotiations next week. In an attempt to slash his country's trade deficits, Trump has vowed to hit dozens of countries with punitive tariff hikes if they do not hammer out a pact with Washington by August 1. While the Trump administration earlier promised "90 deals in 90 days" as it delayed the imposition of higher duties in April, Washington has so far unveiled just five agreements including with Japan and the Philippines. The others are with Britain, Vietnam and Indonesia, the latter of which the White House noted would ease critical mineral export restrictions. Negotiations remain ongoing with major US trading partners China, Canada, Mexico and the European Union. Washington and Brussels signaled negotiations were moving along, with German Chancellor Friedrich Merz voicing optimism that "decisions" may be coming soon. Several EU diplomats added that the bloc was examining a US proposal involving a 15 percent tariff -- and sectoral carve-outs still to be decided. EU trade chief Maros Sefcovic was expected to speak with US Commerce Secretary Howard Lutnick on Wednesday. US Treasury Secretary Scott Bessent, meanwhile, told Bloomberg Television: "I think that we are making good progress with the EU." Separately, representatives from China and the United States will meet next week in Swedish capital Stockholm to further negotiations before an August 12 deadline agreed in May. Beijing and Washington imposed tit-for-tat levies on each other's exports this year, reaching triple-digit levels, before agreeing to lower these temporarily until mid-August. As the clock ticks down, China said Wednesday it would seek to "strengthen cooperation" with Washington, and confirmed vice premier He Lifeng would attend the talks. For now, Trump was touting Washington's agreement with Japan as "a massive deal." He said on his Truth Social platform Tuesday that under the deal, "Japan will invest, at my direction, $550 Billion Dollars into the United States, which will receive 90% of the Profits." Bessent told Bloomberg Television that Japan received a 15 percent tariff rate, down from the 25 percent threatened, as "they were willing to provide this innovative financing mechanism." "They are going to provide equity credit guarantees and funding for major projects in the US," Bessent said. Japanese exports to the United States were already subject to a 10 percent tariff, and this would have spiked to 25 percent come August 1 without a deal. Duties of 25 percent on Japanese autos -- an industry accounting for eight percent of Japanese jobs -- were also already in place, plus 50 percent on steel and aluminum. Japanese Prime Minister Shigeru Ishiba said the autos levy had now been cut to 15 percent, sending Japanese car stocks soaring, with Toyota and Mitsubishi up around 14 percent each. The Nikkei rose 3.5 percent. "We are the first (country) in the world to reduce tariffs on automobiles and auto parts, with no limits on volume," he told reporters. Japan's trade envoy Ryosei Akazawa, who secured the deal on his eighth visit to Washington, said the 50 percent tariffs on steel and aluminum would remain. Akazawa also said increased defense spending by Japan -- something Trump has pressed for -- was not part of the agreement. Trump added Tuesday that Japan agreed as well to "open their Country to Trade including Cars and Trucks, Rice and certain other Agricultural Products, and other things." Rice imports are a sensitive issue in Japan, and Ishiba's government -- which lost its upper house majority in elections on Sunday -- had previously ruled out any concessions. Japan currently imports 770,000 tons of rice tariff-free under its World Trade Organization commitments, and Ishiba said it would import more US grain within this. Ishiba said Wednesday that the deal does not "sacrifice" Japan's agricultural sector. Tatsuo Yasunaga, the chair of the Japan Foreign Trade Council, welcomed the trade deal but said the business community needed to see details to assess its impact. Other US trading partners are watching closely as the August 1 deadline approaches. The Philippines' deal announced Tuesday only saw levies cut by one percentage point, to 19 percent, after Trump hosted President Ferdinand Marcos. China on Wednesday said it supported "equal dialogue" following the announcement of the Japan-US deal.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store