Trump: Japan to invest $36B in U.S. energy, mineral projects

(The Center Square) – Japanese companies will finance investments valued at $36 billion in energy and minerals projects in Ohio, Texas and Georgia as part of a trade agreement that will cut U.S. tariffs on Japanese imports to 15%, according to the Trump administration.

The announcement is part of Japan’s 2025 agreement to invest $550 billion over the next four years at the direction of the U.S., with the funds aimed at rebuilding and expanding core American industries. In October, the Trump administration provided details on Japanese investments of up to $332 billion to develop critical energy infrastructure in the U.S.

The investments announced by the administration on Tuesday include $33 billion for construction of a massive natural gas power plant in Portsmouth, Ohio, that would generate up to 9.2 gigawatts of electricity, enough to supply the needs of approximately 7.4 million homes, making it the largest gas-fired power generation facility in the world, according to a statement released by the U.S. Department of Commerce.