JPMorgan and other US banks are close to agreeing to provide some financing under Japan’s $550 billion US investment pledge, according to two people familiar with talks between the lenders and the Japanese government.

Investment Plan

Such financing would help Tokyo deliver on commitments made to US President Donald Trump. Japanese banks have been reluctant to participate, as their funding base is in yen and obtaining huge amounts of US dollars for big long-term infrastructure projects can be very costly for them.

Japan has thus far announced two batches of projects worth a combined more than $100 billion under the investment scheme — a deal it struck in July 2025 to secure US tariffs of 15%. Trump had threatened levies of 25% on most Japanese exports.

Tokyo is eager to show it is making progress on its pledges, the sources said. In January this year, Trump vowed to hike US tariffs on imports from South Korea, claiming it had not lived up to its part in their trade deal, though he later walked that threat back.

Financing Details

Only $2.2 billion in financing has been committed for the first batch of investments that were unveiled in February. Financing is extended to special-purpose companies set up to manage each project.

Of that amount, roughly one-third is being provided by state-backed Japan Bank for International Cooperation, with the remainder co-financed by the country’s megabanks: Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group.

The first batch of projects unveiled in February includes an oil export facility in Texas, an industrial diamond plant in Georgia, and a natural gas-fired power plant in Ohio.

Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.