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08.06.2025Day of Pope's Death and Tariff Negotiations

Prime Minister Ishiba sent a ritual offering to Yasukuni Shrine while framing US-Japan tariff negotiations as a potential "world model," promising support for small businesses affected by tariffs. The yen weakened to 140 per dollar as markets reacted to these developments.

Former President Trump criticized Japanese car safety standards as "fraudulent" non-tariff barriers, while Tokyo insisted on keeping defense issues separate from trade talks. There were calls within the government to expand US rice imports as a potential concession.

Mid-morning brought news of Pope Francis's death at 88, with global leaders expressing condolences. He had appeared at Easter Mass just the day before.

By afternoon, financial markets tumbled with the Dow dropping 1,000 points following Trump's renewed demands for Fed interest rate cuts. Meanwhile, Chinese automaker BYD announced plans to enter Japan's mini EV market in 2026.
Local and foreign companies cash in as young and old take up sports
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The average price of a new condominium in central Tokyo surged 11.
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