GE Vernova and Hitachi will begin construction of small modular reactors in Tennessee and Alabama. Additionally, the companies have planned to implement two investments in gas power plants. One will be built in Pennsylvania, the other in Texas.
The rest of the article below the video:
The parties also agreed joint actions to increase oil production in Alaska.
Investments worth hundreds of billions of dollars. Japanese obligations towards the USA
The projects mentioned, with a total value of USD 73 billion, are part of Japan's large commitment to invest USD 550 billion. into the American economy until the end of US President Donald Trump's second term in exchange for lowering US tariffs.
Read also: Sanae Takaichi is leading in the election. Markets full of optimism
Although the US Supreme Court invalidated some of the tariffs imposed by the American administration, Japan is still continuing to implement the agreement it concluded with Washington in July last year.
The blockade of the Strait of Hormuz threatens oil supplies
Another project discussed during the visit of the Japanese Prime Minister to the USA was cooperation aimed at increasing oil production in Alaska. The topic has gained importance in recent weeks, when, in response to the American and Israeli airstrikes that began on February 28, Iran blocked navigation through the Strait of Hormuz.
This hit Tokyo hard. It is worth noting that Japan imports over 90 percent. its oil from the Middle East, through the above-mentioned strait.
— With global demand for electricity rapidly increasing and in light of current circumstances, including the situation in the Middle East, we consider this to be of the utmost importance – said the Prime Minister of Japan.
Read also: A breakthrough in US oil sanctions? Iran is preparing its own move
Sanae Takaichi stressed the importance of “close communication” for the safety of navigation through the strategic strait.
