The United States and Japan have announced the first three projects financed under their $550bn bilateral trade and investment deal, designed to shield Japanese exporters from tariffs introduced by Donald Trump.
The largest project is a $33bn natural gas power plant in Ohio led by SoftBank Group. Additional projects include a Texas crude oil export terminal operated by Sentinel Midstream, and a Georgia synthetic diamond factory led by Element Six, a subsidiary of De Beers.
Sanae Takaichi said the investments strengthen economic and security ties.
Key developments:
• $36bn combined investment across US energy and manufacturing sectors
• Tariffs on Japanese exports reduced from 25% to 15%
• Project approvals overseen by US authorities, with funding deadlines
• Masayoshi Son reportedly helped advance negotiations alongside Howard Lutnick
The agreement aims to expand US industrial capacity while providing returns for Japanese investors.
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