Japan's prime minister is out, and markets are up
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 8 September 2025
⏱️ 7 minutes
🧾️ Download transcript
Summary
From the BBC World Service: Markets in Japan have reacted positively to the departure of the country's leader, Shigeru Ishiba, following recent election losses and despite a recent U.S. trade deal. Then, French Prime Minister François Bayrou looks set to lose a confidence vote over drastic budget cuts as the country faces mounting debt. And the United Kingdom is trying to tackle the high price of prisoner reoffending; in England and Wales, nearly a third of prison leavers end up back inside, costing the U.K. government around $24 billion annually.
Transcript
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| 0:00.0 | The Japanese Prime Minister is out and the market is up. Live from the UK, this is the Marketplace |
| 0:06.8 | Morning Report from the BBC World Service. I'm Sarah Rogers. Good morning. Well, we start in the |
| 0:12.8 | world's fourth largest economy, Japan, where markets have reacted positively to the news the president |
| 0:17.6 | has stepped down. Shigiri Shiba quit despite securing a trade deal with the US, |
| 0:23.4 | lowering tariffs imposed on Japanese cars from 27.5% to 15%. |
| 0:28.9 | The BBC's Katie Silver joins us on Marketplace. |
| 0:31.7 | Hi, Katie. |
| 0:32.6 | Hi. |
| 0:33.8 | The president has stepped aside following this mountain pressure, |
| 0:37.0 | but it came after securing a trade deal with the US. |
| 0:40.4 | Yeah, he has said that basically his job is done, |
| 0:43.4 | that I think it's just a sign of how much pressure he was facing. |
| 0:47.3 | He described the US tariff measures as a national crisis. |
| 0:51.4 | I mean, Japan and the US have been long-term allies. And when all of this started |
| 0:56.1 | with Liberation Day, many in this region would have predicted Japan was going to be one of the first |
| 1:00.4 | countries to get a deal across the line. But because of all that domestic pressure, Shigeru Shibah |
| 1:05.7 | had to play a little bit more hardball with Washington in the negotiations, and they only signed this deal, |
| 1:11.9 | this 15% tariff rate deal just last week. |
| 1:15.6 | And that was hugely important for Japanese car manufacturers, wasn't it? |
| 1:19.4 | It is, it is. |
| 1:20.1 | So Toyota, of course, the world's largest carmaker, the US, its largest market. |
| 1:25.0 | And the carmakers in general make up a huge part of Japan's economies. |
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