WASHINGTON: “Significant gaps” persist between the United States and Japan over what should be the first projects under Tokyo’s US$550-billion investment package, Japanese trade minister Ryosei Akazawa said Thursday.
Akazawa is in Washington to discuss the colossal investment promised in the United States in exchange for reducing threatened tariffs on Japan.
“There were still areas where significant gaps remained. Nevertheless, we were able to see further progress,” Akazawa told reporters in the American capital.
He and US Commerce Secretary Howard Lutnick “confirm every time we meet that participating Japanese and American companies must be able to earn solid profits and absolutely not suffer losses,” Akazawa said.
“There won’t be high-risk, high-return ventures.”
He added that there had been “no decisions” regarding the schedule for future discussions or his next visit.