Japan Clarifies Trump’s Role in Investment Allocation
(MENAFN) Japan’s top tariff negotiator firmly rejected claims on Saturday that US President Donald Trump would have “complete discretion” over the distribution of Japan’s $550 billion in investments and loans to the US, as part of the bilateral tariff agreement, according to a news agency.
Upon his return from the United States, Ryosei Akazawa, Japan’s economic revitalization minister, addressed reporters at Tokyo’s Haneda Airport.
He explained that Trump will select projects recommended by a US investment committee, which operates following consultations with a Japan-US advisory panel.
These statements came after US Commerce Secretary Howard Lutnick stated to a news outlet on Friday that Trump has “complete discretion” regarding the investment decisions.
Akazawa emphasized Japan’s involvement in the project selection process and urged the press to avoid “vague” or misleading reporting.
During Akazawa’s recent visit, the two nations released a joint declaration and memorandum concerning Japanese investments and loans.
Subsequently, Trump signed an executive order to enact the agreement, which includes reciprocal reductions in tariffs and decreased automobile duties.
Akazawa had announced on Friday that the trade pact between Japan and the US is expected to come into force within two weeks.
On Thursday, Trump signed an executive order to implement a comprehensive trade agreement with Japan, establishing a standard 15% tariff on nearly all Japanese imports, including automobiles, a reduction from the previous 27.5% rate.
Upon his return from the United States, Ryosei Akazawa, Japan’s economic revitalization minister, addressed reporters at Tokyo’s Haneda Airport.
He explained that Trump will select projects recommended by a US investment committee, which operates following consultations with a Japan-US advisory panel.
These statements came after US Commerce Secretary Howard Lutnick stated to a news outlet on Friday that Trump has “complete discretion” regarding the investment decisions.
Akazawa emphasized Japan’s involvement in the project selection process and urged the press to avoid “vague” or misleading reporting.
During Akazawa’s recent visit, the two nations released a joint declaration and memorandum concerning Japanese investments and loans.
Subsequently, Trump signed an executive order to enact the agreement, which includes reciprocal reductions in tariffs and decreased automobile duties.
Akazawa had announced on Friday that the trade pact between Japan and the US is expected to come into force within two weeks.
On Thursday, Trump signed an executive order to implement a comprehensive trade agreement with Japan, establishing a standard 15% tariff on nearly all Japanese imports, including automobiles, a reduction from the previous 27.5% rate.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
- United States Lubricants Market Growth Opportunities & Share Dynamics 20252033
- Daytrading Publishes New Study On The Dangers Of AI Tools Used By Traders
- Newcastle United Announce Multi-Year Partnership With Bydfi
- Ecosync & Carboncore Launch Full Stages Refi Infrastructure Linking Carbon Credits With Web3
- Utila Triples Valuation In Six Months As Stablecoin Infrastructure Demand Triggers $22M Extension Round
- From Zero To Crypto Hero In 25 Minutes: Changelly Introduces A Free Gamified Crash Course
More Story
Comments
No comment