Japan Risks Tariffs Hike If It Shuns Trump Investment Picks

Japanese imports may face higher tariffs if the country doesn’t fund US President Donald Trump’s investment picks, according to a document fleshing out a $550 billion funding initiative agreed by the two nations.

Trump will choose projects based on recommendations from an investment committee led by US Commerce Secretary Howard Lutnick, according to a memorandum of understanding for the mechanism signed by Lutnick and his Japanese counterpart Ryosei Akazawa in Washington on Thursday.