Japan’s Akazawa to Visit U.S. to Discuss Investment, Loan Projects

Tokyo, Feb. 10 (Jiji Press)–Japanese industry minister Ryosei Akazawa said Tuesday that he will visit the United States for four days from Wednesday to discuss Japanese investments in and loans to the United States as part of the two countries’ tariff deal. Akazawa will meet with U.S. Commerce Secretary Howard Lutnick for in-depth talks on the possible first batch of projects. Japan has agreed to make investments and loans worth up to 550 billion dollars in the United States in exchange for reductions in high U.S. reciprocal and automobile tariffs imposed by the administration of President Donald Trump. Gas-fired thermal power generation, synthetic diamonds and ports are major candidate projects. An announcement could be made if an agreement is reached between the two sides. Akazawa, however, declined to comment on specific projects. The Japanese investments and loans are aimed at building supply chains critical for economic security in the United States so that the two countries can reap benefits. A related bilateral consultative committee that gives advice from legal and strategic viewpoints has met four times so far. A committee comprising only U.S. officials will examine projects to be chosen by the bilateral committee for submission to Trump, who will then make a final decision. END [Copyright The Jiji Press, Ltd.]