An initiative between the United States and Japan may lead to a thousand jobs being added to the US economy in five sectors, revealed a "US-Japan Growth and Employment Initiative" draft that was read to Reuters.
According to a news article published by Reuters, an early draft of a collaboration between the United States and Japan known as the "US-Japan Growth and Employment Initiative" focuses on adding US jobs by focusing on five sectors. One sector that was stated was infrastructure.
Contained in the document was the plan to purchase infrastructure bonds that are dollar-denominated. Reuters reported that this could be the manner in which Japan would be able to be involved in the infrastructure upgrade that was promised by Donald Trump.
What was not included in the draft, however, was the scope of investment as well as the number of jobs that can be created through the initiative. However, an unidentified government source told Reuters that the US economy could be looking at several hundred thousand additional jobs.
Neither was automotive trade included in the document. This is reportedly due to the fact that Trump has previously called the trade in vehicles to be unfair.
This news comes ahead of the Abe-Trump Summit which will occur this month, February 10, Friday. Leaders of both countries will meet in Washington to discuss a two-way trade, US jobs, and infrastructure, reports Bloomberg.
During a phone call, Trump reiterated to Japanese Prime Minister Shinzo Abe the former's promise to create US jobs and told the Prime Minister that he would like for the automobile industry to contribute to that endeavor.
According to Bloomberg, among the suggestions made by the Prime Minister to improve ties were creating jobs in the US, improving industrial productivity and competitiveness in the US, as well as cooperating on infrastructure plans.