Japan seeks 'in-depth' talks on $550B investment plan as trade minister visits US

ISTANBUL

Japan is seeking “in-depth” talks on investments with the US as its trade minister departed for Washington, Kyodo News reported on Wednesday.

Japanese Trade Minister Ryosei Akazawa said he hopes to hold “in-depth" discussions with US Commerce Secretary Howard Lutnick on finalizing the first project under a $550 billion investment framework agreed as part of a bilateral tariff deal.

Speaking to reporters before departing Tokyo’s Haneda Airport for the US, Akazawa said that if he reaches an agreement with Lutnick, he will announce it “as soon as possible.”

Previously, Akazawa led Japan-US tariff negotiations as economic revitalization minister under former Prime Minister Shigeru Ishiba.

The visit marks his first trip to Washington as trade minister under Prime Minister Sanae Takaichi, Ishiba’s successor.

“We have already held a considerable number of discussions,” Akazawa said, noting that he is scheduled to return to Japan on Saturday and cautioning that the talks “will not be straightforward.”

In return for reduced US tariff rates, Japan has pledged to invest $550 billion in the United States.

Both sides are expected to identify specific investment projects, with US President Donald Trump set to make the final decision.