Japan’s new trade minister Akazawa Ryosei says he is ready to support companies willing to join a huge investment campaign in the United States, hinting that the private sector is already showing interest. Tokyo last month pledged to pump 550 billion dollars into the US economy as part of a tariff deal with the Trump administration.
Akazawa spoke to reporters on Friday about the 550-billion-dollar investment package. He said, “As far as I know, some Japanese firms are privately showing interest in investing in the US.” He added the government will support them as their projects take shape.
Akazawa was the chief negotiator at the tariff talks in September.
The trade minister also touched on car exports to the US, which dropped more than 20 percent in the first half of this fiscal year. He said a key risk for the future is that the American market will shrink if vehicle prices keep rising. He said the government will work on a fundamental review of vehicle taxes and support auto parts suppliers to help stimulate the home market.
US President Donald Trump will make a three-day visit to Japan from Monday and meet with newly appointed Prime Minister Takaichi Sanae. The huge investment commitment to the US is expected to top the agenda.
AloJapan.com