Japan and the United States agreed Thursday to speed up selection of the first round of investment projects under a $550 billion package that Tokyo committed to last year following months of tariff negotiations, with a summit of their leaders about a month away.
Hours after his meeting with U.S. Commerce Secretary Howard Lutnick in Washington, Japanese industry minister Ryosei Akazawa told reporters a “significant gap” remained and more coordination was required to serve the mutual interests of the two countries.
“In conducting negotiations, we are naturally keeping in mind the goal of making Prime Minister (Sanae) Takaichi’s visit to the United States a fruitful one,” he said.
Akazawa’s meeting with Lutnick was believed to be part of last-ditch efforts to sort out the first batch of Japanese investment projects to be carried out in the United States, before they are sent to President Donald Trump for final approval.
Although Akazawa, who serves as economy, trade and industry minister, said there was some progress, neither side could unveil any specifics. While refusing to elaborate, he suggested differences remained over interest rates and business risk assessments.
