US-Japan Leaders' Meeting: Paying for the "Super Order of American Nuclear Power," Koizumi Successfully Pleases Trump

According to China News reported on Tuesday, on the morning of the 28th local time, Japanese Prime Minister Sanae Takaichi held talks with U.S. President Donald Trump, who was visiting Japan, at the State Guest House in Tokyo. Media reports indicated that the two immediately engaged in "mutual flattery"—Trump thanked Japan for "investing heavily in the U.S.," while Takaichi stated that U.S.-Japan relations have "entered a golden era."

However, behind this high-profile mutual praise, the real focus is on the exchange of interests between the U.S. and Japan. According to media reports, on that day, the two sides signed two agreements, focusing on trade investment and the security of critical mineral supply chains.

The first agreement clearly states that both sides will promote the implementation of Japan's $550 billion investment plan in the U.S., focusing on energy, AI, and critical minerals, as one of the core contents of the previous July trade agreement. According to CCTV News, it was previously reported that the U.S. and Japan reached an agreement on tariff issues in July, with the U.S. imposing a 15% tariff on Japan, lower than the 25% threatened by Trump earlier.

The second agreement focuses on cooperation in the mining and processing of rare earths and other critical minerals, aiming to ensure supply chain security and reduce dependence on a single source. The framework of the agreement emphasizes that both sides will jointly promote the development and utilization of mineral resources, support relevant technological innovation, and improve the industrial chain.

$550 Billion Investment List Exposed: Energy, AI, and Critical Minerals as Key Focus

On the same day, Japan's Ministry of Economy, Trade and Industry announced a list of potential investment projects, providing the first directions for this funding.

The list shows that participating companies include SoftBank Group, Toshiba, Mitsubishi Heavy Industries, and Hitachi GE, with projects covering key areas such as energy, artificial intelligence, and critical minerals, with individual project scales ranging from $350 million to $100 billion.

Energy projects are the main focus:

Westinghouse plans to collaborate with Japanese companies to build AP1000 nuclear power units and small modular reactors, with a total expected to reach $100 billion; Mitsubishi Heavy Industries, Toshiba Group, and Ishikawajima-Harima Heavy Industries may participate.

Another small reactor plan involving GE Vernova and Hitachi is also expected to reach $100 billion.

The U.S. side will ultimately decide which projects are selected, while Japan retains a certain degree of say. If investments do not proceed as designated by the U.S. side, Trump can still raise tariffs again.

"I want to thank Japan because they are making large-scale investments in the U.S.," Trump said on Tuesday aboard the USS George Washington in Yokosuka, south of Tokyo.

"They are major investors in our country, and we welcome that," Trump added, noting that Takaichi told him that Toyota Motor Corporation will build factories across the U.S., "with a total investment exceeding $10 billion." The U.S. Department of Commerce's briefing did not mention Toyota, but U.S. Secretary of Commerce Gina Raimondo met with business leaders from several companies on the list later on Tuesday.

Has Koizumi "Successfully Managed" Trump?

Analysts pointed out that Trump's lack of public pressure on Japan this time indicates that Koizumi has successfully managed this U.S. president.

Previously, Washington had urged Tokyo to accelerate its defense budget growth and expand purchases of U.S. military equipment. In his policy address last week, Koizumi promised to raise defense spending to 2% of GDP and achieve this goal a year ahead of schedule, earning praise from the White House.

This made the atmosphere of the meeting particularly "smooth"—maintaining the economic cooperation while avoiding political conflicts.

However, analysts believe that despite both sides' high-profile declaration of a "new golden era," the real test lies in whether the $550 billion investment list can be realized and whether Japanese companies are willing to bear the associated political and commercial risks