Japanese PM stays for trade negotiations after election loss

Japanese Prime Minister Shigeru Ishiba on Monday said he would remain in his position to continue negotiations with the United States. The country has an Aug. 1 deadline to reach a trade agreement with the United States or face a 25% tariff. Ishiba’s ruling Liberal Democratic Party on Sunday lost its majority in the upper house when it fell short of the 125 seats it needed to maintain control of the 248-seat chamber. The center-right party last year lost its majority in the parliament’s more powerful lower house. Japanese law does not require a new prime minister to be selected when political power shifts and the upper house does not have the power to file a no-confidence motion against a leader.

Who won over the weekend? Opposition parties collectively secured 126 seats. The Constitutional Democratic Party won 22 seats, the most of any opposition party. Meanwhile, the Democratic Party for the People secured 17 seats and the right-wing Sanseito party won 14. Party leaders founded Sanseito in 2020. The party promotes a Japan-first platform and calls for education reforms, chemical-free agriculture, and restrictions on foreign influences on Japanese businesses and society. 

Dig deeper: Read Christina Grube's report about new tariffs President Donald Trump proposed.