Press Conference by Prime Minister ISHIBA Shigeru Regarding the Meeting of the Heads of the Ruling and Opposition Parties and Other Matters

(On the details of the explanation that Prime Minister Ishiba offered in this afternoon’s meeting of the heads of the ruling and opposition parties that focused on the discussions in the G7 and the upcoming tariff negotiations with the United States; and what specific measures he plans to take following his remark at the beginning of the meeting that he will introduce measures to mitigate drastic changes in gasoline prices starting June 26)

A short while ago, I, along with Komeito Party President Saito, held a meeting with the heads of the opposition parties to discuss the tariff measures announced by President Trump. I explained that we have been exploring the possibility of reaching an agreement with the U.S. on the series of tariff measures in a way that aligns with Japan’s national interests. I also referred to the candid discussion I had with President Trump before instructing the relevant Cabinet members to advance negotiations. Regarding your question, I shared the discussions at the G7 with the participants. I explained that I stated at the G7 Summit that it is now time for the G7 to be united and lead the international community in building a free and fair economic order based on rules. I also conveyed to the G7 Summit that, to resolve trade imbalances among countries, including the U.S. and China, each nation must work on improving its domestic economy and the international economic system. To overcome this situation, which could even be described as a “national crisis,” we will continue to strongly urge a review of the series of tariff measures, taking into account the opinions of the opposition parties.

As I consistently state, inter-party consultations on the provisional gasoline tax rate have progressed by tackling five key areas that need to be resolved: its connection to local finances, its role in global warming countermeasures, its effect on securing financial resources primarily for social infrastructure maintenance and management, the handling of inventory deductions, its effects on distribution, and the handling of subsidies for businesses. A bill to abolish this provisional tax rate has been submitted to the Diet. However, we believe that without concrete, realistic solutions to these five issues, its abolition would cause problems for businesses, consumers and local governments, preventing us from fulfilling our responsibility for the future. Regarding gasoline prices, we are currently implementing a fixed-rate reduction of primarily 10 yen per liter. To prepare for a possible prolonged disruption in the Middle East that could lead to a sharp and sustained rise in petroleum product prices, the Japanese Government will launch preventive measures to mitigate such drastic price surges next week, on June 26. In anticipation of increased demand during the April to August period, these measures will be implemented using surplus funds generated in April and May, with the aim of minimizing the impact on people’s daily lives. We must pay particular attention to the need to ease the burden on rural areas, where public transportation services are limited. In addition to the current measures for fixed-amount reduction, we will implement additional steps to ensure that retail prices—specifically the national average—do not rise above the 175-yen level, consistent with prices seen before and during the Ukraine crisis. In the case of diesel, the same subsidy amount as gasoline will be applied. For kerosene and heavy oil, the subsidy will be set at 50% of the amount provided for gasoline, and for aviation fuel at 40%. The Ministry of Economy, Trade and Industry will provide further details. That’s all from me.

(On the possibility of the House of Representatives being dissolved, especially now that there will be no dissolution in response to a no-confidence motion in the Cabinet being submitted, as today, Mr. Noda, President of the Constitutional Democratic Party, informed Mr. Maehara, co-leader of the Japan Innovation Party, and Mr. Tamaki, who heads the Democratic Party for the People, of his party's intention not to submit such a motion)

I am aware of the reports about such remarks by President Noda, but I am not yet fully aware of how each party will respond. At this stage, I cannot offer any comments.

(On whether Prime Minister Ishiba means that he has not been informed of the intention of Noda’s party to forgo submitting the no-confidence motion?)

I am aware of that through media reports.