AsianFin -- The United States will unveil details this week of Japan’s planned $550 billion investment package in the U.S., Commerce Secretary Howard Lutnick said, as a senior Japanese trade envoy is expected in Washington to formalize the agreement.
“The Japanese agreement, which we’re going to announce later this week, that’s $550 billion at the hand of Donald Trump,” Lutnick said Monday on Fox News’ Ingraham Angle.
Washington and Tokyo reached a preliminary deal in July to cut tariffs on Japanese goods to 15% in exchange for the investment, which will be delivered largely through government-backed loans and guarantees. The specifics of the package, however, remain unclear.
Japanese broadcaster FNN reported Monday that Tokyo’s chief trade negotiator, Ryosei Akazawa, could travel to Washington this week to sign off on the terms. Citing officials, the Nikkei said Japan will push for the document to be less legally binding, while seeking a presidential order to swiftly lower tariffs on its goods.
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