Overview

• President Trump announced on July 23 that the U.S. and Japan struck a deal setting reciprocal tariffs at 15% backed by $550 billion in U.S. investments.
• Ishiba has said he will withhold any resignation decision until he examines the trade agreement’s detailed terms.
• The prime minister plans to meet former LDP leaders Taro Aso, Fumio Kishida and Yoshihide Suga to shore up support.
• Local LDP chapters and veteran lawmakers have intensified calls for Ishiba to step down following the coalition’s loss of its upper house majority.
• A leadership contest under a minority government would struggle to secure enough votes, heightening the risk of legislative gridlock.