The U.S. and Japanese governments held a high-level meeting to flesh out a $550 billion (about 796 trillion won) plan for investment in the United States that was agreed during their tariff negotiations, but they failed to narrow differences over the first investment sector.

According to the Sankei Shimbun on the 13th, Akazawa Ryosei, Japan's Minister of Economy, Trade and Industry, who is visiting the United States, held talks in Washington that day with U.S. Secretary of Commerce Howard Lutnick. After the meeting, he said, “There is still a large gap with the U.S. side over the decision on the first investment project,” adding, “The two sides agreed to work closely to create projects that serve mutual interests.” The meeting lasted about 1 hour and 25 minutes.

He said, “We are each proposing and continuing to review projects that contribute to U.S. economic security.” However, he said, “‘High risk, high return’ projects may involve the use of taxpayer money and are therefore undesirable.”

The two sides are reportedly coordinating candidates for the first investment project, including gas-fired power facilities for data centers, a synthetic diamond production plant, and a crude oil loading port. Once Secretary Lutnick and Minister Akazawa agree on the investment field, U.S. President Donald Trump will make the final decision.

Akazawa also indicated an intention to find common ground before a summit between President Trump and Japanese Prime Minister Sanae Takaichi, which is being arranged for the 19th of next month. He said, “We are negotiating with a view to ensuring that the prime minister's visit to the United States is a productive one.”

President Trump expressed support for Prime Minister Takaichi around the time of the election for Japan's House of Representatives held on the 8th, but he had earlier reportedly expressed displeasure at delays in Japan's investment.

Akazawa arrived in Washington on the 11th and attended an event held at Secretary Lutnick's residence. He also attended an event at the Embassy of Japan in the United States, where he met with U.S. Trade Representative Jamieson Greer.