Japan's Minister of Economy, Trade and Industry, Ryosei Akazawa, embarked on a visit to Washington in hopes of solidifying Japan's first investment project in the United States, part of a broader $550 billion investment plan agreed upon during trade talks last July. However, following discussions with US Commerce Secretary Howard Rutnik on December 12, Akazawa revealed that significant gaps remain between the two nations concerning the details of the investment, indicating that the negotiations are ongoing and complex. Despite some progress reported during the hour and a half long meeting, Akazawa acknowledged that many issues still need resolution before a formal agreement can be made.

Akazawa further mentioned Japan is looking to coordinate their investment decisions in anticipation of Japanese Prime Minister Sanae Takaichi's visit to the US scheduled for March 19, where she is expected to meet with President Donald Trump. This upcoming visit adds pressure to finalize the investment details in order to showcase an accomplishment during the high-profile discussions. Potential candidates for the investment project include the construction of a gas power generation facility, an artificial diamond production plant, and a port for crude oil shipment. However, Akazawa refrained from providing specific details about the first investment project they are considering, emphasizing the need for thorough discussions and avoiding premature announcements.

As trade negotiations continue, concerns remain regarding the pressure from President Trump regarding tariffs, specifically in relation to South Korea. Akazawa indicated that he cannot comment on the discussions with third countries, underlining the delicate nature of the trade conversations at hand and the interplay between diplomatic relations and economic interests in this context.