TOKYO (Kyodo) — Japanese trade minister Ryosei Akazawa said Tuesday he will visit the United States this week to meet his counterpart after Tokyo made a $550 billion investment pledge last year in return for a deal to cut U.S. tariffs on Japanese goods.
During his four-day visit from Wednesday, Akazawa is expected to work on details of the first investment project in talks with U.S. officials including Commerce Secretary Howard Lutnick.
Among major candidates for the first investment project are the production of synthetic diamonds as well as gas and thermal power generation, according to a Japanese government source.
Economy, Trade and Industry Minister Akazawa was Japan’s top tariff negotiator and is currently in charge of talks with Washington over the investment projects.
The Japanese government has been holding talks with the U.S. administration to decide concrete projects under the investment pledge it made in return for the bilateral accord in July last year. Under the agreement, U.S. President Donald Trump makes the final decision on the investments.
AloJapan.com