Overview
- Industry minister Ryosei Akazawa and Commerce Secretary Howard Lutnick met in Washington and agreed to speed selection of an initial tranche ahead of Prime Minister Sanae Takaichi’s March 19 White House visit.
- Akazawa said a significant gap remains over interest rates and business risk assessments, noting Japan’s reluctance to back high-risk, high-return deals that use taxpayer money.
- No projects were finalized or given timelines, with both sides acknowledging progress but no decisions on an inaugural investment.
- Early candidates for the first round include gas-fired power generation for data centers, synthetic-diamond production for semiconductors, and a port development project.
- Under a September MOU, a bilateral consultation committee identifies projects and a U.S.-only investment committee chaired by the commerce secretary recommends them to the president, following a July deal that set Japan’s $550 billion commitment through investments, loans, and guarantees.