President Donald Trump on Tuesday announced a $36 billion wave of Japanese investment in energy and industrial projects across Texas, Ohio, and Georgia, according to statements released by the White House and Commerce Secretary Howard Lutnick. The investments, the first concrete outcomes of a trade deal that lowered tariffs on Japanese imports to 15%, are slated for a natural gas power plant in Ohio, a crude oil export facility in Texas, and a synthetic industrial diamond manufacturing plant in Georgia.
The largest single project, valued at $33 billion, is a natural gas-fired power facility near Portsmouth, Ohio. SB Energy, a subsidiary of Japanese tech investor SoftBank Group, will operate the plant, which is projected to generate 9.2 gigawatts of electricity annually – enough to power all of Ohio’s homes, Lutnick stated. The facility is intended to bolster grid reliability and support American manufacturing with affordable energy, particularly as demand surges from data centers powering artificial intelligence applications.
In Texas, Japan will invest in the $2.1 billion Texas GulfLink deepwater crude oil export facility off the Texas coast. Developed by Sentinel Midstream, the project is expected to generate $20–30 billion annually in U.S. Crude exports and secure export capacity for American refineries, Lutnick said. Sentinel Midstream confirmed its participation in the initiative, expressing honor at being a partner with the U.S. Department of Commerce and the Japanese government.
The third project, located in Georgia, is a synthetic industrial diamond manufacturing plant designed to satisfy 100% of U.S. Demand, according to Lutnick. Details regarding the plant’s specific location and investment amount were not immediately disclosed.
Trump announced the investments on his Truth Social platform, emphasizing the role of tariffs in securing the deals. The announcement follows meetings last week between Japan’s economic and trade minister Ryosei Akazawa and U.S. Commerce Secretary Howard Lutnick to finalize the initial agreements under Japan’s $550 billion U.S. Investment pledge. The timing of the announcement also comes as Trump seeks to strengthen support in key battleground states ahead of the November midterm elections, having previously won Ohio three times.
While the White House highlighted the economic benefits of the investments, it did not identify all companies involved beyond SB Energy and Sentinel Midstream, nor did it provide a detailed breakdown of the investment amounts for each project beyond the overall $36 billion figure. Further details are expected as the projects move forward.