U.S.-Japan trade deal gives Trump control over $550 billion in investments. It could be ‘vaporware’—and a model for other countries

(Credit: Mandel Ngan—AFP/Getty Images)

• One of the provisions of the trade deal that set a 15% tariff on Japan is a pledge from Tokyo to invest $550 billion in key American sectors. The White House said the money will be deployed “at President Trump’s direction,” potentially giving him a bigger say in U.S. industrial policy. But details remain thin, and analysts are skeptical.

The pledge from Japan to invest $550 billion in key U.S. industries could show other countries how to clinch a trade deal with the U.S., even as analysts question how real that money is.