Trump claims America is winning with $550bn | Political News
President Donald Trump announced the first batch of initiatives under the U.S.-Japan commerce deal signed last summer time will formally start, calling it a ‘win’ for America.
“Our MASSIVE Trade Deal with Japan has just launched!” the president wrote on Truth Social.
“Japan is now officially, and financially, moving forward with the FIRST set of Investments under its $550 BILLION Dollar Commitment to invest in the United States of America,” he continued.
The initiatives embrace a gas-powered plant in Ohio, a liquefied natural gasoline facility in the Gulf of Mexico, renamed Gulf of America by Trump, and a crucial minerals plant in Georgia, the president revealed.
“America is building again. America is producing again. And America is WINNING again,” Trump wrote.
Commerce Secretary Howard Lutnick said, in a later tweet, that the second project is really a deepwater crude oil export facility,” rather than an LNG facility.
Last summer, Tokyo committed to invest or provide loans or loan guarantees for a total of $550 billion worth of projects in the U.S., in return for Trump lowering reciprocal and sector-specific tariffs to 15%.
In his post on Truth Social, President Trump said the trade deal would not have been realized without his threat of tariffs.
Trump said the Ohio gas plant will be the largest in history, the Gulf of Mexico facility will further American energy dominance and the critical minerals facility “will end our FOOLISH dependance on Foreign Sources.”
“The scale of these initiatives are so large,” he wrote.
In his statement, Lutnick said that the Ohio gas-powered facility will generate 9.2 gigawatts of power, the deepwater crude oil export facility is expected to generate $20 billion to $30 billion annually in U.S. crude exports, and that the Georgia critical minerals facility is about synthetic industrial diamonds.
“Japan is offering the capital. The infrastructure is being constructed in the United States. The proceeds are structured so Japan earns its return, and America positive aspects strategic belongings, expanded industrial capability, and strengthened power dominance,” Lutnick said.
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