Japan's Prime Minister Shigeru Ishiba announced Sunday he will step down as leader of the world's fourth-largest economy amid growing political discord within his party.

"I made a difficult decision to step down," Ishiba said during a press briefing, in comments translated by Japan's public broadcaster NHK. He added that it is his "strong wish" for members of his Liberal Democratic Party (LDP) to overcome the "difficult divide" within the party.

Ishiba indicated that he had been thinking about his position as prime minister since last year's election, but that it was a matter of finding the right timing.

Ishiba described the U.S. tariff measures as a "national crisis." He added that he believes a "significant milestone" has been reached, after receiving a report from Japan's tariff nego

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