Washington: US President Donald Trump announced that Japan is advancing with its initial investment phase under a $550 billion commitment as part of a trade deal initiated in July last year, emphasizing three major projects in the US focused on oil, gas, and critical minerals.
According to Anadolu Agency, President Trump shared on Truth Social that the investment by Japan is integral to what he described as a “Historic Trade Deal” aimed at revitalizing the American industrial landscape, generating numerous American jobs, and enhancing the nation’s economic and national security.
Trump detailed the projects, highlighting oil and gas initiatives in Texas, power generation in Ohio, and critical minerals in Georgia. He expressed that these projects are essential and credited tariffs as a crucial tool in facilitating them. He mentioned the gas-fired power plant in Ohio as the largest of its kind, and a new liquefied natural gas facility in the Gulf of Mexico, which he referred to as the “Gulf of America,” poised
to bolster US energy exports.
The announcement also included a critical minerals facility intended to reduce US reliance on foreign sources. Trump conveyed that these developments signify a significant period of growth and cooperation between the US and Japan.
In July, the US and Japan declared a substantial trade agreement, with Trump claiming it to be potentially the largest ever. Under this deal, Japan is committed to investing $550 billion in the US, with America expected to receive a majority share of the profits. Additionally, Japan agreed to a reduction in reciprocal tariffs from 25% to 15%.
