Japan’s Prime Minister Shinzo Abe will present his country’s plans to increase investments in the United States during his meeting with US President Donald Trump in Washington on Friday, the Wall Street Journal reports, citing Japanese officials.
Abe’s program seeks to counter Trump’s criticism that Japan benefits much more than the US in trade between the two nations.
Under Abe’s program, the two nations could work together to generate 700,000 jobs in the US and create new markets worth US$450 billion over the next decade, the newspaper quoted the unnamed officials as saying.
The program doesn’t cite specific projects or corporate investments through which such numbers could be reached.
Since assuming office, Trump has accused Japan of making it impossible for US carmakers to sell in the country and of devaluing its currency to help its exporters.
Abe has said he wants to highlight Japanese investments in the US. As of 2014, Japanese firms were employing 840,000 workers in the US, and Japanese investment in the US more than doubled over a decade to US$411 billion as of 2015, the Journal said, citing the latest data from the US Department of Commerce.
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