WASHINGTON: Tokyo and Washington failed to make a final decision regarding the inaugural project of a US$550 billion (about ¥84 trillion) investment package in the United States on Thursday (Feb 12). The project is a key part of the bilateral deal that was reached during tariff negotiations.
Economy, Trade and Industry Minister Ryosei Akazawa held a meeting with US Commerce Secretary Howard Lutnick in Washington on the day.
“There was some progress, but some points still need to be coordinated,” Akazawa told reporters after the meeting, effectively admitting that the two sides were unable to make a final decision.
Following the roughly 90-minute meeting at the US Commerce Department, Akazawa stressed his resolve to fast-track any changes before the Japan-US summit in March. He said that he will keep the political calendar in mind as talks move forward.
Three projects have been discussed as candidates for the inaugural investment: the construction of gas-fired power plants; the development of crude oil shipping ports; and the building of synthetic diamond manufacturing facilities, according to government sources.
Akazawa refrained from talking about the details of the projects discussed during the meeting. - The Yomiuri Shimbun
