Japanese Prime Minister Shigeru Ishiba, under growing pressure to step down over the historic loss of his ruling party in a weekend election, says he will decide on whether to resign after closely studying the tariff deal just struck with the United States.

Embattled Japanese Prime Minister Shigeru Ishiba denied media reports that he is set to announce his resignation, in an apparent bid to extend his premiership despite an election setback earlier in the week.

Japanese Prime Minister Shigeru Ishiba refuted rumors about his resignation following a setback in the upper house election. With crucial trade talks with the U.S. in progress, he delayed any immediate decision.