Japan’s Prime Minister, Ishiba, has announced he will step down, creating new uncertainty for the world’s fourth-largest economy. The country is currently grappling with rising food prices and the effects of U.S. tariffs on its crucial auto sector.
At a news conference, Ishiba stated that the long-dominant Liberal Democratic Party (LDP) should prepare for a leadership election, and he would remain in his position until then. “Now that negotiations on U.S. tariff measures have reached a conclusion, I believe this is the appropriate moment,” he said.
The 68-year-old added, “I have decided to step aside and make way for the next generation.”
On Thursday, U.S. President Donald Trump signed an order to lower tariffs on Japanese autos, with Washington finally moving to implement a trade pact that was negotiated with Tokyo in July.
