Japanese Prime Minister Shigeru Ishiba denied reports that he plans to resign following a historic election defeat in which his ruling coalition lost its majority in both houses of parliament.

Despite growing pressure to step down, Ishiba said he intends to remain in office to oversee the implementation of a new tariff agreement with the U.S.

The trade deal, which reduces tariffs on Japanese exports, is seen as a key priority.

While media reports suggest he may resign by the end of July, Ishiba insisted no such decision has been made, the Associated Press has reported.

The election loss reflects growing voter dissatisfaction, especially among younger voters, with rising living costs and a government seen as favoring older generations.

Written by B.C. Begley