Overview
- President Trump announced a “massive” trade agreement that cuts U.S. import tariffs on Japanese goods to 15 percent and secures $550 billion in Japanese investment
- Prime Minister Shigeru Ishiba has pledged to stay in office until he can scrutinize the final terms of the U.S. deal and will make his resignation decision by the end of August
- The LDP-Komeito coalition lost its Upper House majority on July 20, plunging the government into a rare minority position in both chambers
- Senior figures within the Liberal Democratic Party and local chapters are stepping up demands for Ishiba to step down after the election setback
- Leading LDP lawmakers such as Sanae Takaichi, Shinjiro Koizumi and Toshimitsu Motegi are positioning themselves for a party leadership contest once Ishiba departs