Japan, Ishiba
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Japan, upper house and Wrench in Trade Talks
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Japan PM hangs on
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Japan's election outcome may put the central bank in a double bind as prospects of big spending could keep inflation elevated while potentially prolonged political paralysis and a global trade war provide compelling reasons to go slow on rate hikes.
Japan's Liberal Democratic Party, which Prime Minister Ishiba leads, secured 47 seats in parliament, short of the 50 it needs for a majority.
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.
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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.
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.
Japanese Prime Minister Shigeru Ishiba will continue in office despite his party's election loss. He emphasised preventing a political vacuum and addressing issues like rising living costs, while planning to negotiate with the US on tariffs ahead of the August 1 deadline.
Japan's top tariff negotiator, Ryosei Akazawa, said on Saturday he planned to visit Washington next week to hold further ministerial-level talks with the U.S.