Japan's Trade Minister Visits US to Kickstart $550 Billion Investment in Critical Industries

Minister Akazawa Arrives in Washington for Key Discussions

Japan's Minister of Economy, Trade and Industry, Ryosei Akazawa, has arrived in Washington for crucial discussions regarding the initial project to be financed under Japan's substantial $550 billion commitment to critical US industries and technologies. The visit, which commenced on Wednesday, February 10, 2026, and concludes on Saturday, aims to solidify the implementation of a landmark trade agreement between the two nations. Akazawa is scheduled to meet with US Commerce Secretary Howard Lutnick to 'structure a first project' under the framework.

Details of the $550 Billion Pledge

The $550 billion investment pledge stems from a comprehensive trade deal reached on July 22, 2025, between the United States and Japan. This agreement saw Japan commit significant capital to American industries in exchange for reduced tariffs on Japanese imports, including automobiles. A Memorandum of Understanding (MOU) detailing the terms of this financial commitment was subsequently signed in early September 2025 by Secretary Lutnick and then-chief tariff negotiator Ryosei Akazawa.

The funds are earmarked for investment in key strategic sectors within the United States, including:

• Semiconductors
• Pharmaceuticals
• Critical minerals and metals
• Shipbuilding
• Energy, including pipelines
• Artificial intelligence
• Quantum computing

All investments are mandated to be completed before the conclusion of President Donald Trump's current term, set for January 19, 2029. The framework establishes an investment committee, chaired by the US Commerce Secretary, to recommend projects, with a consultation committee of US and Japanese officials providing input. Japan is given 45 business days to approve projects and transfer funds, with the understanding that declining a project could lead to retaliatory US tariffs.

Potential First Projects and Broader Cooperation

While Minister Akazawa has refrained from commenting on specific initiatives, Japanese media reports have indicated three projects are currently under consideration:

• A $40 billion power plant designed for data centers, potentially involving SoftBank Group and GE Vernova.
• A $2 billion deepwater port intended for crude oil exports.
• A $500 million synthetic diamond plant.

Beyond these specific proposals, the broader investment framework also encompasses significant funding for critical energy infrastructure, with up to $332 billion allocated for areas such as nuclear power generation, small modular reactors (SMRs), power-grid modernization, and advanced cooling systems. Additionally, over $1 billion is designated for fertilizer production, port upgrades, and lithium-iron-phosphate battery facilities. The US and Japan have also formalized agreements to strengthen cooperation on critical minerals and rare earths, aiming to diversify supply chains and reduce reliance on single sources.

Strengthening US-Japan Economic Ties

Minister Akazawa's visit underscores the ongoing efforts by both nations to deepen their economic and strategic alliance. The discussions with Secretary Lutnick are a direct continuation of four online meetings held since December to implement the $550 billion pledge. This high-level engagement is set to be followed by a visit from Japanese Prime Minister Sanae Takaichi to the White House next month, where she is expected to meet with President Trump. These coordinated diplomatic efforts highlight the mutual commitment to enhancing economic security and technological leadership for both the United States and Japan.