Investment in the U.S. Raised to 150 Trillion Yen. Prime Minister Ishiba Expresses Plans to Trump During Summit
On September 7 (Eastern Time), Prime Minister Shigeru Ishiba and U.S. President Donald Trump held their first summit at the White House in Washington. The Prime Minister announced plans to increase Japan's investment in the United States to $1 trillion (approximately 151 trillion yen). Trump commented on Japan's Nippon Steel's acquisition plans for the American steel giant U.S. Steel, stating, "It's not an acquisition; it's an investment," showing a positive stance toward the deal.
Both leaders also agreed to strengthen the deterrent and response capabilities of the Japan-U.S. alliance and announced a joint statement that expressed their commitment to pursuing a “new golden age” in Japan-U.S. relations.
The meeting, which combined a small-group session and a working lunch, lasted about 1 hour and 50 minutes. At the joint press conference afterward, the Prime Minister stated, "Since President Trump took office, the momentum for Japanese companies to invest in the U.S. has increased significantly. I conveyed my desire to work together to raise U.S. investment to an unprecedented scale of $1 trillion." He indicated plans to improve the business environment to ensure that cumulative direct investment in sectors such as automobiles and advanced industries reaches $1 trillion, and he also provided details about plans for factory construction by major automakers Toyota and Isuzu in the U.S.
Trump remarked, "Chronic trade deficits weaken our economy. I intend to eliminate the trade deficit of over $100 billion with Japan," while expressing a welcoming attitude towards the expansion of investment in the U.S.
Both leaders agreed that Japan would increase imports of LNG (liquefied natural gas) from the U.S., with Trump stating, "We are happy about that." They also discussed joint projects on developing oil and natural gas from Alaska. The Prime Minister added at the press conference, "Ensuring a stable supply of resources at reasonable prices is beneficial for Japan and will help reduce the U.S. trade deficit with Japan."
On social media, many expressed disappointment with comments like, “In the end, it’s all about money.”
Thank you.
~~
This channel is operated by charity.
To help us make this channel even better, we invite you to become a member and make a donation.