Japan and the United States have made progress in implementing a $550 billion investment program agreed under a trade deal between the two countries.
Japan’s Minister of Economy, Trade and Industry Ryosei Akazawa said the two sides had made progress on the initiative.
Speaking to reporters after meeting with US Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer in Washington, Akazawa said Tokyo would continue to work closely with the US side.
The investment program was designed to encourage Japanese investment in key sectors of the US economy and has become one of the central elements of a trade agreement reached between the two countries last year.
Under the agreement, US President Donald Trump agreed to set a 15% tariff on Japanese imports and reduce tariffs on automobiles, one of the key sectors of Japan’s economy.