[CTC] Reports: Abe to propose major job-creating plan to Trump

[Susie Chasnoff]

http://www.stltoday.com/business/local/reports-abe-to-propose-major-job-creating-plan-to-trump/article_73b7e304-cfd7-5ea3-97c9-6e36adee51c2.html


TOKYO • Angling to pre-empt complaints over Japan's perennial trade surplus
with the U.S., Prime Minister Shinzo Abe reportedly plans to propose a
sweeping economic cooperation package meant to create hundreds of thousands
of jobs in the U.S. when he meets with President Donald Trump later this
month.

Abe and Trump are expected to meet on Feb. 10. Major Japanese newspapers
cited a draft of the proposal that calls for cooperation on building
high-speed trains in the U.S. northeast, Texas and California. The two
sides would also jointly develop artificial intelligence, robotics, space
and Internet technology.

On a broader basis, the two countries would cooperate in building liquefied
natural gas facilities in Asia to help expand exports of U.S. natural gas
and work together to expand nuclear energy-related sales.

The aim appears to be to turn what could potentially be a major crisis over
trade friction into a business opportunity for both sides.

Abe's proposed public-private initiative is intended to create several
hundred thousand jobs, the reports said Thursday, and involve $150 billion
in new investment in U.S. infrastructure from Japanese government and
private sources over the next decade.

Asked in parliament about his plans for talks with Trump, Abe said Japanese
companies are making significant contributions to the U.S. economy.

"Toyota has been making big investments in the U.S. It has built big
factories, created jobs. If they make profits, their salaries increase and
the benefits for Japan also grow. It's important for each of us to think
that way," Abe said. "If the United States grows, without a doubt that
benefits Japan."

Overall, the expectation is that the plan would generate $450 billion in
new business.

The government pension fund may invest in the projects, the reports said.
Such investments can raise controversy over risk management of funds relied
upon by millions of people in their retirement.

"We are already producing extremely large numbers of cars in the U.S. We
are one of American manufacturers, aren't we? I hope President Trump
understands that," he told reporters at an event Thursday.

Abe and Toyoda are due to meet Friday. Officials dismissed speculation that
their meeting would be a pre-summit strategy session, saying it was
arranged long in advance.

Asked about the reported package, Chief Cabinet Secretary Yoshihide Suga
told reporters that nothing definitive has been decided for talks between
the two leaders.

"We hope to have constructive talks in order to seek how we can forge a
mutually win-win relationship," Suga said. He did not deny the report, but
only added that any decision on involvement by the Government Pension
Investment Fund would be based on whether it would benefit those covered by
the fund.

Other officials did not immediately respond to questions on details of the
proposed package.

Japan's trade surplus with the U.S. fell 4.6 percent in 2016, to about
$60.2 billion.
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