Apparently, as part of the agreement signed yesterday between Tokyo and Washington on their respective trade policies, Japanese companies have also committed themselves to investing in US shipbuilding.
In return for levies on Japanese imports into the US being lowered from 25% to 15%, Japan has pledged to set up a $550 billion fund for investments in America.
The White House says that this is the largest foreign investment ever made by any country. It could generate hundreds of thousands of jobs in the US and boost domestic manufacturing.
According to President Trump’s directives, these funds will be earmarked for revitalizing strategic US industry, and, in part, commercial and military shipbuilding.
The fact sheet published by the US administration states that Japanese companies are going to invest resources in building new construction sites and modernizing existing facilities.
Translation by Giles Foster
