News

Japan's Lower House passed the initial budget for fiscal 2025, marking a victory for Prime Minister Shigeru Ishiba's minority government after revisions secured support from the opposition Nippon Ishin party. The budget includes record spending and measures like free high school education, but faces challenges including addressing unreported political funds within the LDP and debating the issue of separate surnames for married couples.

Asian markets rose on Friday, shrugging off another decline on Wall Street, with Chinese markets gaining after state-run banks were ordered to boost consumer spending. Meanwhile, Wall Street's sell-off deepened as President Trump's escalating trade war dragged the S&P 500 more than 10% below its record high.

The Japanese government has decided to assess the feasibility of human challenge trials, where healthy volunteers are deliberately exposed to viruses, to accelerate vaccine development. This initiative aims to bring Japan's vaccine clinical trials in line with international standards and improve the development of domestically produced vaccines.

Facing a 25% tariff on auto imports from the US, Japan is exploring ways to convince the US to exempt them, including relaxing non-tariff barriers and highlighting their support for the US economy. However, the US remains firm on imposing the tariffs, potentially causing significant damage to the Japanese auto industry and economy.

Former top uniformed officer of Japan's Self-Defense Forces, Shigeru Iwasaki, has been appointed as a political affairs consultant to Taiwan's Cabinet, marking a significant move to strengthen security ties between the two nations. This appointment is likely to face opposition from China, which has historically been wary of Taiwan's close relationship with Japan.