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Japan's Ishiba Vows to Stay on, EU to Prepare US Trade Retaliation Plan | Bloomberg The Pulse 7/21
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July 21, 2025
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47:53Now PlayingJapanese Prime Minister Shigeru Ishiba said he intended to stay on even as his ruling coalition suffered a historic setback in an upper house election on Sunday, an outcome that may further unsettle markets. The ruling Liberal Democratic Party along with longtime partner Komeito lost its majority in the chamber, public broadcaster NHK reported, saying the bloc failed to win the 50 seats it needed to maintain control. That marks the first time since 1955 that a leader from the storied Japanese party will govern the country without a majority in at least one of the legislative bodies. In trade news, European Union envoys are set to meet as early as this week to formulate a plan for measures to respond to a possible no-deal scenario with US President Donald Trump, whose tariff negotiating position is seen to have stiffened ahead of an Aug. 1 deadline.
The overwhelming preference is to keep negotiations with Washington on track in a bid for an outcome to the impasse ahead of next month’s deadline. Still, efforts have yet to yield sustained progress following talks in Washington last week, according to people familiar with the matter. Negotiations will continue over the next two weeks.
Today's guests: Aneka Beneby, Julius Baer Portfolio Manager, Phoenix Kalen, Société Générale Corporate & Investment Banking Head of Emerging Markets Research, Philippe Chryssicopoulos, UBS Global Co-Head of the Global Industrials Group & Global Head of Infrastructure and Power
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"The Pulse With Francine Lacqua" is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.
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