U.S. President Donald Trump welcomed Japanese Prime Minister Shigeru Ishiba at the White House on Friday (February 7), Reuters reports.
Ishiba told the president he was impressed by how Trump had survived an assassination attempt in July and that he realized then that the Republican would win the November U.S. presidential election.
Ishiba said Japan was determined to work hand in hand with the United States to bring peace to the world. He also told Trump Japan was ready to boost investments in the U.S. and highlighted plans by Japanese firms Toyota and Isuzu.
Trump announced at a press conference on Friday (February 7) with Japanese Prime Minister Shigeru Ishiba that progress was being made regarding Nippon Steel's previously blocked $14.9 billion bid to acquire U.S. Steel.
Ishiba agreed with Trump that the deal with U.S. Steel would not be "an acquisition," but "an investment."
"With Japanese technology, they can create better quality products," he said. "And U.S. Steel products will contribute to Japan, the United States and the world. That’s why we invest. It is not one-sided. It will be reciprocal. It will be mutually beneficial."
The prime minister expressed Japan's willingness to increase its investment in the U.S. to $1 trillion, a move that he believes will significantly boost U.S. employment. Part of this commitment includes plans for Japan to amplify its importation of U.S. liquefied natural gas.
When questioned about the potential imposition of tariffs, Ishiba emphasized the unprecedented scale of Japan's proposed investment in the U.S. However, he declined to speculate on hypothetical situations, stating that he was "unable to respond to a theoretical question."
