Japan PM hopeful Takaichi signals review of trade deal with Trump

A top contender to lead Japan’s ruling party suggested that a trade renegotiation with the US could be on the table if the deal does not serve Japan’s interests.

“We must stand our ground if anything unfair that is not in Japan’s interests comes to light in the process of implementing the deal,” Sanae Takaichi said on Sunday with regard to a US$550 billion Japanese investment fund that was part of an agreement to lower US tariffs. “That includes a potential renegotiation.”

The right-leaning Takaichi made the comments during a live Fuji TV show, less than a week before the ruling Liberal Democratic Party is set to elect its new leader from five candidates.

Agriculture Minister Shinjiro Koizumi has topped recent polls of LDP lawmakers on whom they will be voting for in the coming leadership race, while other surveys show that Takaichi is popular among rank-and-file members.

About 30 per cent of lawmakers are considering voting for Koizumi, according to surveys conducted by Sankei newspaper and broadcaster JNN. Current Chief Cabinet Secretary Yoshimasa Hayashi came in second, and Takaichi was third, according to the poll conducted by Sankei, which also showed that about 20 per cent were still undecided.

If none of the contenders win a majority in the initial round of voting, the top two candidates with the most ballots will enter a run-off race, fighting over a total of 342 ballots, of which 295 will be cast by lawmakers and 47 will be cast by the regional branches of the LDP.