Press Conference by Minister Muto (Excerpt)

*Note: This is a provisional translation for reference purposes only.

9:39 to 9:43 a.m.
Tuesday, January 28, 2025
Press Conference Room, METI Main Building

Opening Remarks

None

Question-and-Answer Session

Public-Private Partnership Forum on Increasing Domestic Investment

Q: Yesterday, Keidanren announced the new target for increasing domestic capital investment to 200 trillion yen in FY2040. Could you comment on METI’s key policies for achieving this target?

A: Yesterday, the Public-Private Partnership Forum on Increasing Domestic Investment was held. As you mentioned, Chairman Tokura of the Japan Business Federation (Keidanren) announced the new public-private targets for domestic investment at 135 trillion yen in FY2030 and 200 trillion yen in FY2040. We truly welcome these targets.

As an approach to achieving these targets, it is important to take certain efforts, such as implementing regulatory and institutional reform to encourage companies to invest for growth; encouraging capital investment, research and development, and human resource investment in growth fields; supporting the development of various forms of infrastructure including industrial sites; and improving the environment to one in which a variety of industries can advance labor-saving investment in ways that are tailored to the current situation in each industry.

The Prime Minister instructed me and Mr. Akazawa Ryosei, Minister in charge of Economic Revitalization to take the lead in working out the specifics of these policies. We will endeavor to achieve the goals by uniting efforts of the public and private sectors.

President Trump’s policy of raising tariffs

Q: I would like to ask you again about U.S. President Trump’s policy for tariffs.
President Trump stated that he intends to impose additional tariffs on products from China and the EU. I understand that both China and the EU have large trade surpluses with the U.S., and although President Trump has not yet announced his policy, some have pointed out that Japan, too, may become a target of these policies at some point in the future. Could you explain your view on this expectation?

A: While we receive a large variety of information every day, we are keeping a close eye on trends in the new policies of the Trump administration. At this point, I cannot predict the potential future measures taken by the U.S. as it would be premature. In any case, as I mentioned before, we will carefully examine the specific details of any tariff measures that may arise going forward and their impacts on Japan and appropriately address such measures.

Based on this, Japan will strive to keep close communication with the new administration to further enrich and develop Japan-U.S. economic ties in a way that contributes to Japan’s interests.