U.S. President Donald Trump announced three projects in Ohio, Texas, and Georgia to be financed by Japan as part of its $550 billion investment pledge. Valued at $36 billion in total, the initiatives focus on energy and industrial sectors. Commerce Secretary Howard Lutnick stated that they will bolster America's energy supply and manufacturing capabilities.
On February 17, 2026, in Washington, the Trump administration announced three major projects to be financed by Japan. These mark the first investments under Japan's $550 billion pledge to the U.S., tied to a trade deal that reduced tariffs on Japanese imports to 15%.
In Portsmouth, Ohio, SB Energy—a subsidiary of Japan's SoftBank Group—will operate a natural gas power plant valued at $33 billion. It will generate 9.2 gigawatts of electricity annually, making it the largest natural gas-fired facility in U.S. history. The plant addresses rising electricity demand from data centers powering artificial intelligence applications.
Off the Texas coast, the $2.1 billion Texas GulfLink deepwater crude oil export facility, developed by Sentinel Midstream, will receive Japanese funding. Lutnick said, “This project is expected to generate $20–30 billion annually in U.S. crude exports, secure export capacity for our refineries, and reinforce America’s position as the world’s leading energy supplier.” Trump mentioned a liquefied natural gas project in Texas, though it was not detailed in official statements or fact sheets.
The third project in Georgia is a $600 million synthetic industrial diamond manufacturing plant operated by Element Six, a unit of De Beers Group. It will meet 100% of U.S. demand for synthetic diamond grit, a key input for advanced manufacturing and semiconductors, reducing reliance on China.
Details on Japanese funding shares and conditions remain unclear, but under prior agreements, profits are split 50-50 until initial costs are recouped, then 90-10 in favor of the U.S. The announcements followed last week's meetings between Lutnick and Japan's economic and trade minister Ryosei Akazawa, who told reporters that several issues were still unresolved. The timing comes one month before Prime Minister Sanae Takaichi's planned White House visit.
Trump wrote on Truth Social, “The scale of these projects are so large, and could not be done without one very special word, TARIFFS.”
