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Time of India
an hour ago
- Time of India
Japan PM Shigeru Ishiba signals he'll stay amid resignation calls
Japanese PM Shigeru Ishiba signalled he intends to stay in office despite a growing number of calls within the ruling party for him to step down after an election setback last week. "I intend to devote myself to the people and the future of the country," Ishiba said in an interview with national broadcaster NHK. He added he must take responsibility for implementing the recently announced US-Japan trade deal , and that the real work on it starts now. He is set to speak at a meeting of Liberal Democratic Party lawmakers on Monday. Party members have been calling on someone to take responsibility for the July 20 elections that saw the LDP lose its majority in Japan's upper house elections. It marks the first time since 1955 that a leader from the storied Japanese party will govern the country without a majority in at least one of the legislative bodies. Explore courses from Top Institutes in Please select course: Select a Course Category Data Science Public Policy Others Cybersecurity CXO healthcare Design Thinking MBA PGDM Management Technology Finance Data Science Leadership Product Management Operations Management MCA others Data Analytics Project Management Healthcare Degree Artificial Intelligence Digital Marketing Skills you'll gain: Duration: 10 Months E&ICT Academy, Indian Institute of Technology Guwahati CERT-IITG Prof Cert in DS & BA with GenAI India Starts on undefined Get Details Skills you'll gain: Duration: 30 Weeks IIM Kozhikode SEPO - IIMK-AI for Senior Executives India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK DABS India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months E&ICT Academy, Indian Institute of Technology Guwahati CERT-IITG Postgraduate Cert in AI and ML India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months IIT Madras CERT-IITM Advanced Cert Prog in AI and ML India Starts on undefined Get Details Former foreign minister Toshimitsu Motegi called for a leadership change within the LDP on his Youtube channel over the weekend. Local media reported last week that Ishiba was set to resign, but the prime minister denied the news shortly afterward. Asked by NHK if he had second thoughts about his decision to continue in office, Ishiba said no. Economic Times WhatsApp channel )


Time of India
an hour ago
- Time of India
India cautious as US deals with Japan, others unravel
India is treading cautiously in its trade talks with the US, persons familiar with the issue said, citing a setback in America's recent deal with Japan, and continuing challenges in closing two other deals announced by President Donald Trump - with Indonesia and Vietnam. Japan has disputed the terms of its trade deal with the US, with Tokyo's interpretation diverging from that of the Trump administration. Japanese officials maintain there is no written agreement yet, while US officials claim Tokyo has committed investments in the US, from which local taxpayers would get nine-tenths of the profits. Explore courses from Top Institutes in Please select course: Select a Course Category Finance Cybersecurity CXO Data Science Artificial Intelligence Degree Project Management healthcare Leadership MCA Healthcare Public Policy Operations Management Others Technology Digital Marketing PGDM Data Science Data Analytics Management Design Thinking MBA others Product Management Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Fintech & Blockchain India Starts on undefined Get Details Skills you'll gain: Duration: 9 Months IIM Calcutta SEPO - IIMC CFO India Starts on undefined Get Details A Japanese official in a statement last week said it expects the terms of the $550-billion investment package will see profits being split between the two countries based on the degree of contribution. This contradicts Trump's claim that Japan would bear the entire investment burden on its own, with the US receiving 90% of the profits. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like No annual fees for life UnionBank Credit Card Apply Now Undo On Saturday, commerce and industry minister Piyush Goyal said the negotiations for a bilateral trade agreement with the US and Oman were at an advanced stage. He also said a team of negotiators from the US will visit India in the second half of August to take the talks ahead. India would not be bound by timelines when it came to trade negotiations, the minister said, signalling that the government won't rush into a deal at the cost of national interest. Live Events Trump unilaterally announced a trade deal with Indonesia following a conversation with President Prabowo Subianto, but the deal is yet to be signed. On July 22, Indonesia's chief negotiator and coordinating minister for economic affairs, Airlangga Hartarto, issued a joint statement with US Trade Representative Jamieson Greer, outlining the framework for the deal and clarifying import tax rates. The statement included additional information on non-tariff measures and commercial agreements, and the two sides agreed to continue negotiations to finalise the pact. "Yet, the risk of a policy setback remains high if the political agreement is not turned into a legal instrument," according to a commentary by Iis Gindarsah, a visiting senior fellow specialising on Indonesia at the S Rajaratnam School of International Studies (RSIS) in Singapore. Meanwhile, Vietnam is yet to officially confirm the tariff rates announced by Trump as part of a bilateral deal, it is learnt. Hanoi fears that its exports to the US could decline by a third if higher tariffs announced by Trump take effect. Vietnam's total exports to the US amounted to $120 billion last year, according to official data. "Tariffs of 20% to 40% would slash export revenue by up to $37 billion, and hit the majority of Vietnam's key industries, including electronics, machinery, garments, footwear and furniture," a recent Bloomberg report said.
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First Post
4 hours ago
- First Post
US, EU trade talks begin in Scotland as von der Leyen seeks deal with Trump
US President Donald Trump and European Commission President Ursula von der Leyen convened in Scotland on Sunday in a bid to resolve a prolonged transatlantic trade row. read more US President Donald Trump and European Commission President Ursula von der Leyen met in Scotland on Sunday to push forward high-stakes trade negotiations with both sides under pressure to avert a transatlantic tariff clash before an August 1 deadline. The talks come after weeks of intense back-and-forth between Washington and Brussels as the EU seeks to strike a deal that would shield key sectors, particularly automobiles, pharmaceuticals and industrial goods from sweeping new US tariffs. STORY CONTINUES BELOW THIS AD Trump has threatened to impose fresh 30% tariffs on EU goods if an agreement is not reached by Friday, on top of existing levies including 25% on cars and parts and 50% on steel and aluminium. He has maintained that the EU has treated the US unfairly and warned that without a deal, punitive measures would go ahead. Despite the rising stakes, Trump said the chances of a deal were '50-50', while calling von der Leyen a 'highly respected woman' and expressing hope that the meeting would be productive. Speaking from his Turnberry resort on Friday, he said that there were '20 sticking points' in the negotiations but declined to elaborate. The EU, the United States' largest trading partner, exported €532 billion ($603 billion) worth of goods to the US in 2024, with pharmaceuticals, auto components, and chemicals among the biggest categories. The two sides exchanged a total of €1.6 trillion ($1.8 trillion) in goods and services last year, underscoring the magnitude of what's at stake. In preparation for Sunday's talks, EU negotiators consulted with Japanese officials, whose recent deal with Washington secured a baseline tariff of 15%. Trump has been aiming for similar trade shakeups globally, having already clinched agreements with the UK, Japan, Indonesia and Vietnam, though his administration has fallen short of delivering on its '90 deals in 90 days' pledge. STORY CONTINUES BELOW THIS AD With the clock ticking, both Trump and von der Leyen are hoping Sunday's discussions in Scotland will pave the way for an agreement that could reshape one of the world's most important trade relationships and stave off another economic confrontation.