Japanese Prime Minister Ishiba resigns after a series of electoral losses

Japanese Prime Minister Shighgero Ishiba said yesterday that he decided to resign, which might a long time ago for a critical stage in a critical stage that the fourth largest economy in the world is going through.

Ishiba, 68, stated, at a press conference, that he instructed the Free Democratic Party, which ruled Japan almost throughout the post -war, to hold emergency elections to choose a new leadership, adding that he would continue his duties until a successor to him.

The coalition led by the Free Democratic Party, led by Ishiba, lost its majority in the elections of the two rooms since he took power less than a year ago, amid the wrath of the voters from the high cost of living.

Ishiba rejected calls from within his party to step down, and holds the responsibility for losing control of the House of Advisors, the Higher Chamber of Parliament, last July, and instead focused on putting the final touches on the details of a trade agreement with the United States on customs duties imposed by President Donald Trump, which ravaged the important Japanese auto industry, and threw shadow on weak growth.

“With Japan signing the trade agreement, and the president signed the executive order, we would have overcome a major obstacle,” Ishiba said, and he continued with a sound that seems to be emotional, “I would like to deliver the flag to the next generation.”

Speculation about the fate of Ishiba increased when the Free Democratic Party decided to hold a vote today, whether he would hold exceptional elections to choose a new leadership.

Political paralysis may exacerbate the difficulties faced by the economy affected by American customs duties, but the markets focus more on the chance of replacing Ishiba with a supporter of facilitation in financial and monetary policy.

In accordance with the commercial agreement with the United States, Tokyo pledged to pump investments of $ 550 billion, in exchange for reducing US customs duties on the main auto sector in Japan.

• The coalition led by the Free Democratic Party, led by Ishiba, lost its majority in the elections of the two rooms since he took power.