Japan Risks Tariffs Hike If It Shuns Trump Investment Picks (1)

Japanese imports may face higher tariffs if the country doesn’t fund US President Donald Trump’s investment picks, according to a document fleshing out a $550 billion funding initiative agreed by the two nations.

Trump will choose projects based on recommendations from an investment committee led by US Commerce Secretary Howard Lutnick, according to a memorandum of understanding for the mechanism signed by Lutnick and his Japanese counterpart Ryosei Akazawa in Washington on Thursday.

Lutnick said Friday that tariffs on Japanese goods would go “back up” if the country did not abide by the terms of the agreement — ...