Japan's $550 billion package focuses on US infrastructure, Lutnick tells Nikkei

TOKYO :U.S. Commerce Secretary Howard Lutnick said Japan's $550 billion U.S.-bound investment package would focus on areas such as power and pipelines that are fundamental to national security and "have virtually no risk."

In an interview with the Nikkei business daily published on Monday, Lutnick said 10 to 12 Japanese companies involved in areas such as power supply and shipbuilding are preparing to explore investment opportunities in the U.S., with the first project expected to be identified as early as the end of this year.

Lutnick also said tariffs on Japanese-made semiconductors and pharmaceuticals will remain at 15 per cent.