Trump announces first U.S.-bound investment projects from Japan, including Texas oil and gas

New York (Financial News) — President Donald Trump on the 17th (local time) announced three projects that will be Japan’s first investments under its new pledge to invest in the United States.
On his social media platform Truth Social, Trump wrote, "A massive trade agreement with Japan has just gone into effect," adding, "Japan is now moving forward with the first set of investments under its formal, financial commitment to invest 550 billion dollars (about 794 trillion won) in the United States."
He went on, "Today, I am pleased to announce three tremendous projects in strategic areas: oil and gas in the great state of Texas, power generation in the state of Ohio, and critical minerals in the state of Georgia." He noted that these investments stem from the trade and tariff agreement Japan concluded with the United States.
Trump stated, "The scale of these projects is very large, and they would not have been possible without one very special word: 'tariffs.'" He continued, "The gas-fired power plant in Ohio, where I have won three times, will be the largest in history, and the LNG facilities on the American Gulf Coast will drive exports and, further, our nation’s energy dominance. The critical minerals facilities will also end our foolish dependence on foreign sources of supply."
With the first U.S.-bound investment under the new trade deal between the United States and Japan now revealed, observers are watching whether it will influence the Trump administration’s pressure on South Korea to increase its investment in the United States.
Trump has reportedly complained that Japan’s investment in the United States has been slow to materialize. In response, Japan sent Minister of Economy, Trade and Industry Ryosei Akazawa to Washington, D.C. on the 12th to meet with U.S. Commerce Secretary Howard Lutnick and others, where they discussed options for the first major U.S. investment package.
No agreement was announced at the time of the talks between Akazawa and Lutnick. However, based on Trump’s post, it appears that the two sides reached a deal after additional negotiations.
Trump declared, "America is building again. America is producing again. And America is winning again," calling it "a very exciting and historic moment for both the United States and Japan."
Earlier, on the 26th of last month, Trump used Truth Social to criticize the failure of the National Assembly of Korea to pass the Special Act on Investment in the United States. He threatened to raise product-specific tariffs on South Korean automobiles, lumber, pharmaceuticals and other items, as well as all reciprocal country-by-country tariffs, back to 25% — the level before the South Korea–United States trade agreement.
In response, Minister of Trade, Industry and Energy Kim Jeong-gwan and Minister for Trade Yeo Han-koo urgently traveled to the United States, where they met with Commerce Secretary Lutnick and other senior U.S. officials and members of Congress. Minister of Foreign Affairs Cho Hyun also visited the United States to meet with Secretary of State Marco Rubio and Jamieson Greer, head of the Office of the United States Trade Representative (USTR), among others.
At the same time, the National Assembly of Korea, led by the ruling Democratic Party of Korea, has been seeking swift passage of the U.S. investment bill.
So far, South Korea has not obtained the outcome it hoped for, such as a formal withdrawal of the Trump administration’s tariff hike plan against South Korea. However, as of the morning of the 17th (local time), the U.S. side had also not taken follow-up steps such as issuing an executive order to reimpose the higher tariffs. pride@fnnews.com
pride@fnnews.com Reporter Lee Byung-chul Reporter