U.S. Department of Commerce@CommerceGov
Statement from Secretary Howard Lutnick:
MASSIVE AMERICA FIRST TRADE WIN: President Trump has approved the first three projects under Japan’s $550 billion investment commitment to the United States as part of our historic U.S.–Japan trade deal.
These projects represent a $36 billion commitment in key sectors of our economy -- power generation, oil and gas, and advanced manufacturing.
This is what strategic trade looks like.
First, in Ohio, together with Japan we will develop the largest natural gas generation facility in history, generating 9.2 gigawatts of power. We will strengthen grid reliability, expand baseload power, and support American manufacturing with affordable energy.
Second, we will build a critically important deepwater crude oil export facility in the Gulf of America. This project is expected to generate $20–30 billion annually in U.S. crude exports, secure export capacity for our refineries, and reinforce America’s position as the world’s leading energy supplier.
Third, we will create synthetic industrial diamond manufacturing capacity in the United States which will onshore production 100 percent of U.S. demand for synthetic diamond grit, a critical input for advanced industrial and technological production. We will no longer rely on foreign supply for this essential material.
Together, these projects are expected to deliver thousands of high-quality American jobs.
Japan is providing the capital. The infrastructure is being built in the United States. The proceeds are structured so Japan earns its return, and America gains strategic assets, expanded industrial capacity, and strengthened energy dominance.
I am grateful to the President for his leadership and to the Government of Japan for their partnership.
The future has never been brighter.
