After a Japan-US summit meeting in Washington D.C., Japan’s prime minister Shigeru Ishiba has expressed his intention to invest $1 trillion into the United States — an “unprecedented” level, according to the PM. The two statist figureheads also discussed the long-debated fate of US Steel, and will be strengthening bilateral military defense support.
Japan’s new Christian, self-labeled “defense geek” prime minister (PM), Shigeru Ishiba, said at a joint press conference on Saturday (JST), that the Japanese government would increase investment in the United States to an “unprecedented” level of $1 trillion (approx. 150 trillion JPY).
Ishiba praises US Steel investment, increased military funding, in face of poverty-level pensions
The statement came after the two heads of state discussed matters such as defense agreements and Japan’s potential investment in US Steel (United States Steel Corporation). US Steel has been in buyout negotiations since December 2023 with Japan’s Nippon Steel, with reported rocky relations and no agreement being reached as of writing.
Trump now says an investment by Nippon Steel, and not an acquisition of USS by the Japanese giant, will be the best path, with Ishiba noting at the conference (translated by Google): “I am very grateful that he has shown us a clear solution … This will also lead to reducing the US’s trade deficit with Japan.”
Regarding defense capabilities, Ishiba has long been a vocal supporter of increased military and cyber-defense spending, much to the chagrin of many Japanese who just want their economy fixed. For example, many elderly individuals are currently forced to work low-pay, demanding part-time jobs in order to survive on inadequate government pensions.
A recent report from the Mainichi details: “The basic pension, received by all those eligible, cannot be said to be enough to assist post-retirement livelihoods. Even if a person kept paying pension premiums for 40 years, they can receive just under 70,000 yen (approx. $440) per month under the plan.”
According to regional media, the Japan-US alliance’s deterrent and response capabilities will be enhanced, with PM Ishiba stating: “I confirmed with the President the US’s unwavering commitment to the defense of Japan.” Ishiba declared about the controversial increase in defense spending: “Japan cannot do this just because America tells us to. It is a decision that Japan should make on its own responsibility for the sake of its country.”
Japan’s uniquely ‘Westernized’ PM also faces popular resistance from the Japanese people when it comes to working with US-based AI giants like OpenAI, instead of focusing on domestic tech development.
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