Japan’s Prime Minister Shigeru Ishiba said on Sunday he would step down after less than a year in power, during which he lost his majority in both houses of parliament.

The announcement means fresh uncertainty for the world’s fourth-largest economy as it battles rising food prices and deals with the fallout of US tariffs on its vital auto sector.

“Now that negotiations on US tariff measures have reached a conclusion, I believe this is the appropriate moment,” Ishiba told a news conference.

“I have decided to step aside and make way for the next generation,” he said.

US President Donald Trump signed an order on Thursday to lower tariffs on Japanese autos, with Washington finally moving to implement a trade pact negotiated with Tokyo in July.

However, although Japanese autos will now fa

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