The United States will make an announcement this week on Japan’s $550 billion investment in the U.S., Commerce Secretary Howard Lutnick said, as a top Japanese trade envoy was reportedly planning to visit Washington to formalize the package.
“The Japanese agreement, which we’re going to announce later this week, that’s $550 billion at the hand of Donald Trump,” Lutnick told the Ingraham Angle show on Fox News on Monday night.
The Japanese funds could be used for the manufacturing of products such as semiconductors, antibiotics or rare earths in the U.S., Lutnick added.
Washington and Tokyo agreed in July to set a reduced 15% tariff on Japanese imports in exchange for a $550 billion package of U.S.-bound investment through government-backed loans and guarantees, but details of its contents remain obscure.
Trump has touted the package as “our money to invest, as we like”, while Japanese officials have stressed the investments will be determined by whether they will also benefit Japan.
