Overview
- The Ministry of Economy, Trade and Industry is formally reviewing legal and regulatory changes to allow Japan to lead development of overseas lithium and other strategic mineral mines so companies will invest in politically unstable jurisdictions.
- Reports say Iran launched missile and drone strikes on U.S. bases in Kuwait and the UAE, and U.S. Vice President Kamala Harris publicly demanded Tehran stop attacks that have raised concerns about safety for commercial shipping in the Strait of Hormuz region.
- Household consumption remains weak with July real consumer spending down 3.6 percent year on year, marking an eighth straight monthly decline and increasing pressure on policymakers to support demand.
- The national government will distribute ¥25.8 billion in special reconstruction grants on September 8 to help disaster-hit localities repair roads and farmland while local agencies and volunteers continue searching for pets and people displaced by the Kumamoto earthquake.
- U.S. reporting says Meta CEO Mark Zuckerberg told President Trump in a private call that he opposes creating a new agency to preapprove advanced AI models, reflecting industry pushback that could shape how U.S. AI rules develop.