Japan, trade deal and European Union
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1don MSN
Japan's embattled prime minister Shigeru Ishiba, fresh off a crushing defeat in upper house elections over the weekend, will not be in a position of strength to negotiate a favorable trade deal with the U.S., analysts said.
The LDP’s loss in the upper house is another blow to Prime Minister Shigeru Ishiba, who has been struggling to close a trade deal with the Trump administration.
Seoul will take a close look at the terms of a U.S.-Japan trade deal, South Korea's industry minister said on Wednesday, holding out the prospect of greater cooperation in the energy and industrial sectors ahead of key trade talks in Washington.
President Trump's new trade deal with Japan includes a 15% tariff on exports to the U.S., up from earlier rates. CBS News MoneyWatch correspondent Kelly O'Grady breaks down how this could impact major automakers.