Japan's obligations under a $550 billion investment pledge, made in the course of tariff negotiations with the United States, were outlined in a document signed Thursday in Washington.
The terms and conditions detailed in the 1,700-word memorandum of understanding closely match those verbalized by U.S. officials a number of times since the U.S. and Japan reached a handshake trade deal on July 22.
U.S. President Donald Trump will direct the investments and the projects funded by Japan will be controlled by the United States. The document includes a "boomerang" clause, which states that tariffs could be taken back to higher levels if Japan declines to make investments.
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