The procedure to pick Japan’s next leader has turned difficult, as Ishiba’s Liberal Democratic Party and its junior coalition partner lost their majorities in both houses of parliament, and hence, the LDP president is no longer guaranteed to become premier.

Shigeru Ishiba resigns: Who are the top contenders for Japan’s PM post?

Japanese Prime Minister Shigeru Ishiba, as per reports, is set to announce his resignation after his party's crushing defeat in the recent upper house elections.

Shigeru Ishiba to quit as Japan PM less than a year after taking office: Reports

A part of the deal, the US will invest $550 billion in Japan, focusing on supply chain resilience. Japan maintains its agricultural tariffs but pledges to increase imports of specific US goods. Steel and aluminum tariffs remain at 50%. 

US-Japan trade deal: Here are the 5 key takeaways