But what about reciprocal tariffs? In Trump's tweet, he says that it will be set to 15% but it remains to be seen if that is misconstrued by the Japanese side as to mean auto tariffs or all tariffs. There's still no firm details yet.
The important thing to remember coming into this is that Japan prime minister Ishiba is under heavy pressure back home in Tokyo. After suffering another defeat in parliament last week, he has seen his mandate and governing powers be significantly weakened. As a reminder, the ruling coalition lost control of the upper house of parliament for the first time since 1955.
So after having talked up such a tough stance against the US for three months, why the sudden change in heart to offer a concession on agriculture to make a deal?
As a reminder, any agreements and accords struck by the government will still need ratification and approval by the Japan's parliament. And given the circumstances, Ishiba is very much a lame duck now so one can expect policymakers to put his head on the chopping block before agreeing to anything that he wants to put through in the National Diet.
So yes, the headlines may seem encouraging for now. However, the reality of the situation is that what we're seeing is just a last ditch attempt by Ishiba to stay relevant and one that might not work at the end of the day.
This article was written by Justin Low at investinglive.com.Hence then, the article about ishiba s last ditch attempt was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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