Japanese Prime Minister Shigeru Ishiba will announce his resignation by the end of next month. Japanese media outlets report that the reason for this decision is the defeat in the parliamentary elections.
"The prime minister plans to announce his resignation by the end of July, taking responsibility for the defeat of the ruling coalition in the upper house elections held on July 20," Japanese sources say.
Earlier, Shigeru Ishiba and US President Donald Trump signed a trade agreement that provides for reducing import tariffs on Japanese cars and spare parts, in return for protecting Japan from punitive tariffs on other goods.
According to the Yomiuri newspaper, Ishiba told his close associates on Tuesday evening that he intends to resign to take responsibility for the election defeat, once he completes the process of a trade agreement with the American side.
The prime minister's departure, just a year after taking office, will trigger the process of electing a new leader within the ruling Liberal Democratic Party (LDP).
Shigeru Ishiba is expected to meet with key members of the ruling party on Wednesday to discuss the election results.
