TOKYO (dpa-AFX) - President Donald Trump has announced that the Japanese government and various Japanese companies committed to investments worth $467 billion in major projects in the United States to further revitalize the U.S. industrial base.
Trump and Japan's Prime Minister Sanae Takaichi signed the U.S.-Japan Framework Agreement in Tokyo on Tuesday.
As part of this agreement, Japan has committed to invest up to $332 billion to support critical energy infrastructure in the United States. It includes the construction of AP1000 and small modular reactors in partnership with Westinghouse; construction of SMRs in collaboration with GE Vernova and Hitachi; the supply of large-scale base-load power infrastructure from ENTRA1 Energy; engineering, procurement, and other services to build critical power plants, substations, and transmission systems in collaboration with Bechtel and Kiewit; other services for design, procurement, and maintenance of large-scale power infrastructure in collaboration with SoftBank Group Corp.; and natural gas transmission and power infrastructure services in collaboration with Kinder Morgan.
Japanese companies will invest up to $25 billion to supply large-scale power equipment such as gas turbines, steam turbines, and generators for grid electrification and stabilization systems, including high-voltage direct current and substation solutions for mission-critical facilities in partnership with GE Vernova.
Japan will invest another $25 billion to supply electrical power modules, transformers, and other power-generation substation equipment in collaboration with Toshiba; and $20 billion to supply thermal cooling systems and solutions, including chillers, air handling systems, and coolant distribution units essential for power infrastructure in partnership with Carrier.
$30 billion investment has been pledged in partnership with Mitsubishi Electric to supply power station systems and equipment for data centers, $25 billion in collaboration with TDK for advanced electronic components and power modules, and $20 billion with Fujikura to supply optical fiber cables.
Japan has also pledged to invest $15 billion to produce advanced electronic components, including multi-layer ceramic capacitors, inductors, and electromagnetic interference suppression filters, in partnership with Murata Manufacturing; and $15 billion to supply energy storage systems and electronic devices and components in collaboration with Panasonic.
Japanese companies will construct a $3 billion ammonia and urea fertilizer facility in the United States and a $2 billion copper smelting and refining facility in the western region.
$600 million worth of investment will be made to upgrade ports and waterways across the southern United States to facilitate the export of U.S. crude oil; $500 million to establish a high-pressure, high-temperature diamond grit manufacturing facility in the United States; and $350 million to construct a lithium-iron-phosphate production facility in the United States.
The White House said that Japan committed to further expand opportunities for U.S. exports. Toyota plans to export its U.S.-made vehicles to Japan and open its distribution platform in Japan to U.S. automakers, as a result of Japan's commitment to accept for sale in Japan U.S. manufactured and U.S. safety-certified vehicles without additional testing.
Japan will implement its Mobile Software Competition Act in a way that does not discriminate against U.S. companies.
The United States and Japan signed a Memorandum of Cooperation to expand shipbuilding capacity in both nations by aligning investment, procurement, workforce, and technology initiatives.
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