British media: US Japan trade agreement cracks, Japan denies US 90% profit sharing plan

According to the Financial Times, there is a clear divergence in the interpretation of the details of the agreement previously reached between the United States and Japan. Tokyo stated on Friday that in order for the United States to obtain 90% of the joint investment profits, it must bear a corresponding proportion of risks and financing responsibilities. Previously, US Commerce Secretary Lutnik announced that under the framework of the latest tariff agreement, Japan will provide funding to support a $550 billion investment in strategic industries in the US, with the US receiving 90% of the profits. But a PowerPoint presentation released by the Japanese Cabinet Office on Friday clearly stated that profit distribution "will be determined based on the contribution level and risk taken by all parties". Japanese officials pointed out that no written agreement has been reached between Japan and the United States regarding this investment, nor has a legally binding agreement been signed. According to informed sources, the agreement was hastily reached during a 70 minute meeting between Japan's chief negotiator Ryo Akazawa and the US on Tuesday. The Trump team is concerned that if Japanese Prime Minister Shigeru Ishiba steps down due to political instability, they will have to renegotiate, so they are eager to finalize the agreement.