US President Donald Trump announced that three projects will be implemented in Texas, Ohio, and Georgia as part of a $550 billion investment commitment included in the trade agreement reached with Japan.
“Elchi” reports that US President Donald Trump made statements regarding the trade agreement reached with Japan in a message he published on his social media account. Stating that the “huge” trade agreement reached in July officially came into effect, Trump said: “Japan is officially financially implementing the first phase of its $550 billion investment commitment to the US. These investments are part of our historic trade agreement that we signed to revitalize American industry, create jobs for hundreds of thousands of Americans, and strengthen our national and economic security more than ever before.”
Sharing the information that Japan will invest in three different regions of the US within this framework, Trump said: “I am pleased to announce three magnificent projects to be implemented in strategic oil and gas fields in Texas, energy production in Ohio, and vital minerals in Georgia.”
Claiming that these large-scale projects were possible thanks to the tariffs he implemented, Trump said: “The gas plant in Ohio, where I won three times in the elections, will be the largest in history; the liquefied natural gas (LNG) facility in the American Gulf will increase exports and further advance our country’s energy dominance; and our vital mineral facility will end our foolish dependence on foreign sources.” Noting that the US has once again become a country that produces and earns, Trump said: “This is a very exciting and historic time for the US and Japan. Congratulations to everyone.” US Secretary of Commerce Howard Lutnick said in a written statement that Trump approved the first three projects within the framework of the $550 billion investment commitment included in the trade agreement reached with Japan. Lutnick stated that these projects represent a $36 billion investment commitment in the fields of energy production, oil and gas, and advanced manufacturing, and added: “This is the essence of strategic trade.”
He noted that together with Japan, they will build the largest natural gas power plant in history in Ohio and generate 9.2 gigawatts of electricity, and said: “This will increase the reliability of the grid, expand base load capacity, and support American manufacturing with affordable energy.” Lutnick also stated that a very important deep-water crude oil export facility will be built in the American Gulf, and added: “This project is expected to contribute $20-30 billion annually to US crude oil exports, ensure the export capacity of our oil refineries, and strengthen America’s position as a leading global energy supplier.” Lutnick emphasized that the third project will create the US’s synthetic industrial diamond production capacity, saying: “Thanks to this, we will meet 100% of the US demand for synthetic diamond grit, which is essential for advanced industrial and technological production, domestically. We will no longer be dependent on foreign suppliers for this vital material.”
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