Today's Edition
TOKYO (REUTERS)
Japanese Prime Minister Shigeru Ishiba resigned on Sunday, ushering in a potentially lengthy period of policy uncertainty for the world's fourth-largest economy.
Having just ironed out final details of a trade deal with the United States to lower President Donald Trump's punishing tariffs, Ishiba, 68, told a press conference he must take responsibility for a series of bruising election losses. Since coming to power less than a year ago, the premier has overseen his ruling coalition lose its majorities in elections for both houses of parliament.
He instructed his Liberal Democratic Party to hold an emergency leadership race, adding he would continue his duties until his successor was elected.
"With Japan having signed the trade agreement and the president having signed the executive order, we have passed a key hurdle. I would like to pass the baton to the next generation," Ishiba said in an emotion address.
Concern over political uncertainty prompted a sell-off in Japan's yen currency and its government bonds last week, with the yield on the 30-year bond hitting a record high on Wednesday.
