September 13, 2025

Japanese Communist Party Dietmember Daimon Mikishi, at a session of the House of Councillors Budget Committee on September 12, expressed concern that Japan’s 550-billion-dollar (80 trillion yen) investment in the United States “may result in imposing a burden on the Japanese populace.”

Japan has agreed to contribute funds to the United States for investment in areas selected by the U.S. president, including semiconductors, critical minerals, and artificial intelligence.

Daimon pointed out that, unlike the European Union whose investment is private-sector led, Japan’s investment involves public funds, such as those from the Japan Bank for International Cooperation (JBIC). He also pointed out that a U.S. “investment committee” recommends investment targets and the president then makes the final selection, and that Japan is not allowed to participate in this committee.

Under the JBIC Act, Japan cannot invest in projects that offer no prospect of profit or benefit for Japan. The JCP lawmaker questioned, “If the U.S. forcefully pushes a project, claiming it will benefit Japan in the future, Japan may be unable to refuse.” He demanded that in light of the law, Japan say what must be said to the United States.

U.S. President Trump announced on social media that Japanese funds will create hundreds of thousands of new manufacturing jobs in the Rust Belt, his core support base, as part of the 550-billion-dollar investment package. Daimon pointed to the possibility that the investment, regardless of profitability, could be directed toward elections involving Trump.”

Funding from Japan will initially be deposited into a “fund” established by the U.S. Department of Commerce, and the fund will be used to invest in individual projects. Consequently, Japan will be unable to have subsequent oversight. Daimon again raised concern, saying, “If Japanese investments underperform, who will bear the responsibility for that?”