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.
16 Articles
16 Articles
Japan says progress made on $550B pact, with AI and chips weighing heavily on the next round
Japan’s trade minister said discussions on AI and semiconductors will carry very significant weight in the third tranche of its $550B US investment pact, after two rounds went to energy and minerals. The EU’s own framework contains no comparable vehicle, and commits the bloc to buying at least $40B of US AI chips. Japan’s trade […] This story continues at The Next Web
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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