Japan, US Far Apart on $550 Billion Fund Projects, Akazawa Says

The US and Japan remain far apart over which projects should be funded first under the framework of a $550 billion investment vehicle even as the two sides made progress in their latest round of talks, Japanese Trade Minister Ryosei Akazawa said.

Akazawa met for 85 minutes with US Commerce Secretary Howard Lutnick on Thursday in Washington to discuss establishing the initial projects. He didn’t announce any projects or elaborate on the details of the private discussion.

“It is premature to say what exactly we will be able to introduce to everyone as the first batch,” Akazawa said to reporters ...