Japan’s tariff negotiator is expected to propose greater investment by Japanese companies in the United States in the upcoming ministerial-level tariff talks in Washington.
Economic Revitalization Minister Akazawa Ryosei is set to take part in the third round of talks in Washington on Friday, local time.
Sources say Japan will present a plan to expand Japanese firms’ investment in the US.
It is likely to include Nippon Steel’s offer to invest billions of dollars in US Steel, if its bid to acquire the US steelmaker is approved.
Japan apparently aims to turn the tariff talks to its advantage by stressing its willingness to contribute to the US manufacturing sector.
The 14-billion-dollar buyout plan was blocked in January by then-President Joe Biden on national security grounds.
Last month, President Donald Trump instructed the Committee on Foreign Investment in the United States to conduct a fresh security review of the proposed deal.
The government body reviewing the proposed acquisition has reportedly sent its recommendation to the president this week.
Trump is expected to make his decision on the buyout plan by June 5.
Some Japanese government officials are skeptical that an agreement will be forthcoming in this round of talks as Treasury Secretary Scott Bessent is not expected to attend.
Government sources say preparations are underway for Akazawa to visit the United States again next week for talks with Bessent.
Japan hopes to lay the groundwork for an agreement by accelerating negotiations through frequent visits to Washington.
