US Commerce Secretary Howard Lutnick has spoken about a plan that will see Japan invest 550 billion dollars into the United States. He says President Donald Trump has “complete discretion” on where the money will go.
Lutnick sat down for an interview with CNBC television on Friday. He said that if Trump says he wants to build a natural gas pipeline in Alaska, he’ll “make capital calls to the Japanese” to build it.
The project to develop liquefied natural gas in Alaska comes with a price tag of 44 billion dollars. Critics have raised doubts about its feasibility and profitability.
Lutnick and Japan’s top trade negotiator Akazawa Ryosei signed a memorandum on Thursday confirming the terms of an agreement on the Japanese investment.
Trump signed an executive order the same day, lowering import tariffs on Japanese automobiles to 15 percent.