News

Former Prime Minister Fumio Kishida, in a veiled criticism of U.S. President Donald Trump, called for international cooperation and support for Ukraine, emphasizing the need for global unity and multilateralism to protect the rule of law and the free and open international order. He also urged Japan to take a more active role in promoting peace.

Central Japan Railway Co. (JR Tokai) plans to install next-generation, thin solar cells on noise barriers along its Tokaido Shinkansen Line, using the generated electricity to power lighting at stations and other facilities. The project aims to utilize the lightweight and flexible perovskite solar cells for sustainable energy production.

Trade minister Yoji Muto's trip to Washington failed to secure assurances from the U.S. that Japan would be exempt from tariffs on steel, aluminum, and automobiles. Despite emphasizing Japan's economic contributions to the U.S., Muto only gained "some understanding" from U.S. officials and will continue to make Japan's case in future discussions.

Prime Minister Shigeru Ishiba has indicated that the government will revise its draft budget for fiscal 2025 to secure support from the opposition Nippon Ishin party. The revisions include lifting income restrictions on government financial assistance to high school students and providing free lunches at elementary schools.

The stock market rallied on Wednesday after President Trump temporarily pulled back on some tariffs, raising hopes that a full-blown trade war could be avoided. However, uncertainty remains as Trump has not retracted all tariffs and the recent string of weaker-than-expected economic reports has raised concerns about "stagflation.