Japanese Prime Minister Shigeru Ishiba plans to announce his resignation by the end of next month, the Mainichi newspaper reported today.
Ishiba is facing growing opposition from within his Liberal Democratic Party for his vow to stay in power despite the ruling coalition's bruising defeat in Sunday's upper house election.
According to the Yomiuri daily, Ishiba told his close associates yesterday evening that he would explain how he would take responsibility for the election loss once a solution was reached on trade negotiations.
Photo: EPA-EFE
In a post on Truth Social, US President Donald Trump said he had just completed a "massive" deal with Japan that included US$550 billion in investments into the US.
Speaking after Trump's post, Ishiba said he was ready to meet or speak over the phone with Trump after being briefed on the details by Japan's top trade negotiator Ryosei Akazawa, who has been in Washington for trade talks.
"I can't say until I scrutinize the outcome of the agreement," Ishiba told reporters when asked how the deal with Washington could affect his decision on whether to step down.
In explaining his decision to stay on, Ishiba has stressed the need to avoid creating a political vacuum as Japan faced challenges including difficult trade negotiations with the US that would have a huge impact on the export-reliant economy.
"I will stay in office and do everything in my power to chart a path toward resolving these challenges," Ishiba said in a news conference on Monday, adding that he intended to speak directly with Trump as soon as possible and deliver tangible results.
Ishiba is expected to meet ruling party heavyweights later today for discussions on the election outcome.
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