"Trump is furious"… Anger simmering beneath Takaichi’s 'full-throated support'

Speculation has emerged that behind US President Donald Trump’s unusual pre-election endorsement of Japanese Prime Minister Sanae Takaichi ahead of Japan’s general election lie frustration over delays in Japan’s investment in the United States and expectations of a “price” to be paid.

According to the Nikkei on the 10th, after Japan’s ruling Liberal Democratic Party (LDP) scored a landslide victory in the general election held on the 8th, President Trump posted on social media to Prime Minister Takaichi, saying, “I sincerely congratulate you on your overwhelming victory.” He also added, regarding his support for Takaichi just before the vote, “It was an honor to be able to support you.” Ahead of the election, Trump declared that he “fully and completely supports” Prime Minister Takaichi.

The Nikkei noted that “President Trump harbors both expectations and distrust toward Prime Minister Takaichi.” It reported that on the same day Trump said he “fully supports” the Takaichi administration, Japan was informed by a US administration official that “President Trump is furious over issues involving Japan.”

Trump’s grievance is that Japan’s planned $550 billion investment in the United States is being delayed. The two countries agreed in July last year that Japan would execute massive investment in the United States in exchange for tariff reductions. They are currently adjusting plans to pursue three projects, including gas-fired power generation, as the first tranche.

US Commerce Secretary Howard Lutnick had originally told President Trump that the first item would be decided by the end of last year. However, the first project is a large-scale initiative exceeding ¥6 trillion, and drawing up the plan is taking time. The target was pushed back to the end of January this year, and has now been changed to the end of February. Trump has reportedly grown increasingly dissatisfied, saying “Japan is deliberately dragging out the negotiations.”

Japan sees it differently. It believes it would be more advantageous to be the first among major countries to execute a large-scale investment in the United States as a favor to President Trump. The US and Japan are scheduled to hold a summit in March, and President Trump is slated to visit China in April.

In the United States, Supreme Court proceedings over “Trump tariffs” have also been delayed. Within the Trump administration, doubts have been raised that “Japan may postpone an investment decision until the Supreme Court ruling, and if the court finds the tariffs illegal, might scrap the $550 billion.”

The Trump administration has been reaching out to the Takaichi camp. US monetary authorities are reportedly believed to have begun “rate checks,” a preparatory step for possible currency intervention, last month to curb excessive yen selling. A senior US official candidly acknowledged that Washington “was willing to provide side support” to a Takaichi government capable of coordinated action on security and other issues.

The Trump administration always demands something in return. At next month’s US-Japan summit, President Trump is expected to press Prime Minister Takaichi for additional increases in defense spending. Within the US administration, there has also been discussion of deploying ¥10 trillion in Japanese funds for plans such as building new nuclear power plants. The Nikkei pointed out that “President Trump’s full-throated support as a dealmaker is not free.”

Tokyo=Correspondent Kim Il-gyu black0419@hankyung.com