For Americans who were awaiting the release of the Nintendo Switch 2, the delay of U.S. pre-orders for the gaming console this April was one indication of what’s to come.

A mutually beneficial U.S.-Japan tariff agreement is still possible, Treasury Secretary Scott Bessent said on Friday after meeting Japanese Prime Minister Shigeru Ishiba in Tokyo. "A good deal is more important than a rushed deal,

Japan's ruling coalition, led by Prime Minister Shigeru Ishiba, lost control of the upper house in a Sunday election. This further weakens Ishiba's hold on power, following a previous loss in the lower house.

Unlike the European Union, the Japanese government has made no indication it plans to impose any kind of reciprocal tariff on the U.S.

Japanese Prime Minister Shigeru Ishiba met with US Treasury Secretary Scott Bessent in Tokyo on Friday ahead of the scheduled imposition of 25% duty on Japan.

Exports fell for a second straight month in June, fueling fears that U.S. tariffs will halt Japan’s economic recovery and complicate the central bank’s policy plans.

U.S. Treasury Secretary Scott Bessent told Japanese Prime Minister Shigeru Ishiba that their countries can reach a "good agreement" on tariffs, Ishiba said on Friday after meeting Bessent in Tokyo. No specific terms were discussed,