Japan says progress made on $550 billion investment pact with U.S.
Trade minister Ryosei Akazawa said two project rounds have been announced, including $109 billion in energy and mineral investments.
- Trade Minister Ryosei Akazawa confirmed progress on a $550 billion investment initiative set up to spur Japanese investment in key U.S. industries as part of last year's trade agreement.
- Under last year's tariff deal, President Donald Trump agreed to set levies at 15% on Japanese products while lowering automobile duties, with both sides confirming no additional tariffs would be imposed.
- Two rounds of projects have been announced, including $36 billion for oil, gas, and mineral projects in Ohio and $73 billion for nuclear power in Tennessee and Alabama, plus natural gas plants in Pennsylvania and Texas.
- Akazawa said discussions on artificial intelligence and chips will carry "very significant weight" as both nations continue implementing projects that contribute to "mutual benefits."
- Japan and the U.S. will continue working closely on future initiatives, though Akazawa declined to comment on a third tranche of projects under development.
13 Articles
13 Articles
Japan's trade minister, Akazawa Resay, stated that Tokyo and Washington were working successfully on Japan's $550 billion investment commitments that it was investing in the US economy as part of the country's trade agreement, reported Bloomberg. "Akadzawa said that progress had been made with the $550 billion investment, an initiative that was part of last year's US trade deal," informed the agency. "We will continue to work with the US," he sa…
Japan to invest $550 billion in the United States in exchange for lower tariffs — now at the center of the AI and chip deal, <p>Japan has advanced a deal to invest in the United States for $550 billion in exchange for a 15% duty. The new package will focus on AI</p> and chips.
(Tokyo=Yonhap News) Correspondent Lee Do-yeon = The United States and Japan have confirmed that there will be no tariffs exceeding the U.S.-Japan agreement reached last year regarding U.S. tariff measures, Kyodo News...
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