Japanese Prime Minister and President of the Liberal Democratic Party Shigeru Ishiba (LDP).
Kiyoshi Ota/Bloomberg
It is hard not to know that it could be so high as Japanese Prime Minister Shigeru Ishiba has a approval rate of less than 28%.
The latest cause of the Ishiba disaster is a scandal about gift vouchers for his members of the Liberal Democratic Party. But the real problem is that since the seizure of power on October 1, Isbon has been neglecting an economy, and U.S. President Donald Trump has become worse.
Trump imposed a 25% tariff on imports of foreign cars and auto parts marking an escalation of the upcoming trade war that Island parties hope to avoid, according to news on Wednesday.
However, this is an Ishiba and the least developed people should be seen coming.
Back in early February, Ishiba had her first seat with Trump, the highest meaning of the meeting for 125 million people in Japan. There, Ishiba claimed to have a strong relationship with Trump. The subtext is that Isbon may block Japan from Trump’s tariffs, including tariffs on cars.
Not so much, because the Japanese market is cheering up and is about to usher in a headwind of Trump. If you don't see this insult, the Ishiba team won't keep paying attention.
Part of the question here is how Tokyo learned the wrong course from the 2017-2021 Trump 1.0 ERA. Then, it was Shinzo Abe's party partner in Isbon's struggle with how to deal with Trump.
For many, Abe did so cleverly. But, that's more than the truth. For all of Abe's Shinzo, Japan failed to exempt Trump from taxes on steel, aluminum and other goods. Despite Abe's complaint, Trump withdrew from the Trans-Pacific Partnership, a key part of Tokyo's plan to contain China.
Trump World even humiliated Abe by letting Shinzo Abe nominated for the Nobel Peace Prize for the U.S. leader. Although Trump is comfortable to North Korean leader Kim Jong-un in a way that endangers Japan's national security.
The idea is that Abe is some kind of Ishiba who is “Trump whisperer”. Since February 7, Trump has effectively used Japan and China as an Asian economy that manipulates the exchange rate. Trump also blew up the spin of Tokyo, and Ishiba won the Nippon Steel design on U.S. steel.
Now, Japan realizes that doing business with Trump 2.0 is futile. Officials in Tokyo like to call Trump a deal leader. Trump has no negotiations, he has blackmailed. Give him an inch and he will return to Tokyo a few kilometers in a month.
The Trump storm is extremely complex, which has allowed Isbon to avoid the opportunity to be included in Tokyo's horrific 12-month club. Although Shinzo Abe lasted for nearly eight years, most Japanese leaders only got one in power. There is little reason to think that Ishiba will reach its 13th month.
The latest Kyodo News poll shows that the Ishiba cabinet's approval rate is 27.6%, down 12 percentage points from February. Since then, voters have realized Ishiba’s reputation as a scandal-free politician is a bunk. Hopefully he might limit the collateral damage of Trump's trade war.
If Ishiba had some famous reform wins on the scoreboard, he might have performed better. Like his three direct predecessors, including Abe (including Abe), Ishiba promised to reduce bureaucracy, modernize the labor market, rekindle innovation, increase productivity and empower women, but achieved negligible success, thus enhancing Japan's competitive game.
As the July national election approaches, it returns to the powerful Liberal Democratic Party. It also plagues the Bank of Japan, which has been trying to normalize interest rate policies. Since July 2024, Governor Kazuo UEDA has been closest to any peer since 2007 to bring short-term interest rates above 0.5%.
Now, Trump's trade war is forcing the UEDA team to press the pause button as it tightens the action. One concern is that Trump may continue his long-term temptation to weaken the dollar. If the sheds hike ratios as the Trump team takes action, the yen could soar in unpredictable ways, pushing Japan into a recession.
That way, just as China is exporting inflation, Trump is levied on Japan with taxes on cars, which is not in the best interest of the global economy. Or Ishiba avoids short-term infamous opportunities in Tokyo's political history.
