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At that time, Japan agreed to invest 550 billion dollars in the US economy, and in return, the US agreed to apply 15% tariffs on Japanese imports rather than the originally planned 25%.
The initial projects under the trade agreement include investments totaling $36 billion and focus on areas such as power production, the oil and gas sector, and manufacturing.
Trump wrote on Truth Social the day before that the scale of these projects is huge and would not have been possible without one very specific term: tariffs.
The biggest project is a natural gas power plant located close to Portsmouth, Ohio. According to the US Department of Commerce website, the initiative involves an investment of $33 billion. Lutnick stated that it will be the biggest "natural gas power plant in history" with a capacity of 9.2 gigawatts. The operator of the plant will be SB Energy, which is a subsidiary of SoftBank, a Japanese company.
Japanese Trade Minister Ryosei Akazawa informed reporters that Toshiba Corp. and Hitachi Ltd. have also shown interest in taking part in the project.
source: wsj.com
The initial projects under the trade agreement include investments totaling $36 billion and focus on areas such as power production, the oil and gas sector, and manufacturing.
Trump wrote on Truth Social the day before that the scale of these projects is huge and would not have been possible without one very specific term: tariffs.
The biggest project is a natural gas power plant located close to Portsmouth, Ohio. According to the US Department of Commerce website, the initiative involves an investment of $33 billion. Lutnick stated that it will be the biggest "natural gas power plant in history" with a capacity of 9.2 gigawatts. The operator of the plant will be SB Energy, which is a subsidiary of SoftBank, a Japanese company.
Japanese Trade Minister Ryosei Akazawa informed reporters that Toshiba Corp. and Hitachi Ltd. have also shown interest in taking part in the project.
source: wsj.com
