TRANSCRIPT: President Trump Attends a Business Leaders Reception in Tokyo, 10.28.25
[Video]
Howard Lutnick: Well, welcome, everybody. I'm incredibly proud to announce that this evening we're going to be signing $490 billion of investment. So, I'm sorry, I let you down. I didn't get to $500 billion; I came a little short, but we'll get there. Anyway -- so, these deals are driven by the Japanese Strategic Investment Initiative, which was created by your tariff policy and by your historic trade agreement with Japan. So, that was the underlying reason that we were able to get all these deals done today. So, the commitments ensure the economic and national security of the United States of America. We're going to be developing energy, we're going to be developing nuclear, semiconductors, and strengthening the entire domestic supply chain.
So, I'd like to kick it off, right? And the first company I'd like to announce is Westinghouse, which will invest up to $100 billion in nuclear reactors to restore US energy dominance. And we have the cosigners, Bruce Flatt, who's the chairman and CEO of Brookfield Asset Management. So, come on up. There you go and hold it with the president. We're starting with the big deals then we have GE Vernova, also $100 billion by using nuclear, the construction of SMRs and also large-scale power equipment such as gas turbines, steam turbines and generators. And we have Scott Strazic, CEO of GE Vernova. Next, we have Bechtel -- is doing up to $25 billion in construction and engineering services to build these large-scale power -- all across the United States of America. And Brendan Bechtel please come on up.
Brendan Bechtel: Thank you. Thank you, Mr. President. Thank you very much. Thank you.
Lutnick: Next up is Kiewit, also $25 billion in engineering, procurement and construction services. Tom Shelby, come on up, the group president. Next up someone we know really well, Masa Son from SoftBank is going to provide $25 billion of engineering development, specification, design, procurement of large-scale power infrastructure in America.
Masayoshi Son: Thank you. Thank you.
Lutnick: Next, we have Toshiba, also up to $25 billion in US electrical power modules and transformers. Entra1, up to $25 billion in large-scale baseload power infrastructure structure. And this is Wadi Habboush. Next, we have the Carrier Corporation will build up to $20 billion in thermal cooling systems and solutions, chillers, air handlers and coolant distribution for our power infrastructure. And with us today is Michael Gierges.
Michael Gierges: [Inaudible] in regard.
President Donald Trump: Thank you very much.
Gierges: Thank you very much.
Trump: Fantastic.
Gierges: [Inaudible] Thank you.
Lutnick: Now we have Kinder Morgan, the great pipeline company in America, is providing up to $7 billion in natural gas transmission and other power infrastructure. And we have Kimberly Dang, who's the CEO, with us today. Now this is all moving to AI infrastructure. Next, we have Mitsubishi Electric, which will build up to $30 billion in power station systems. You've got generators, transmission and equipment all for data centers, Kei Uruma. Next up, TDK will build $25 billion in electronic components and power modules that are essential for the AI infrastructure. Noboru Saito. Next up is Fujikura. You know, we know them of course for making great shafts, right, in golf clubs.
But they also have the best cabling in the world for AI systems, and they're going to be bringing that critical optical fiber cables for the internet to America. Naoki Okada, who's the president and CEO of Fujikura. Next, we have Hitachi, but Hitachi hasn't decided how big they want to be yet. So, they're thinking about it.
Trump: $500 billion. [Laughter]
Lutnick: All they have to do is throw in an extra $10 billion and we'll get there. Toshiaki Tokunaga. Murata manufacturing will provide $15 billion in Advanced electronic components. Norio Nakajima is the president of Murata manufacturing company. And lastly, rounding out our $490 billion, Panasonic will provide $15 billion to supply energy storage systems with electronic components, Yuki Koizumi.
Trump: I'm super excited. We're excited too. We're excited. Great job. Thank you.
Lutnick: Not everyone who committed was able to be here tonight, but we had one of the most extraordinary groups of people who've committed to back your tariff moves and your historic trade deal, to bring amazing infrastructure to America. And they're all really, really grateful to be here for you, Mr. President.
Trump: Thank you. We just heard that Toyota is going to be contributing $10 billion building auto plants throughout the United States. And they are doing it I think because of the November 5th election and because of the tariffs. And I was just authorized to make that statement. And we have another company that's going to be contributing at least $10 billion. And I'll give you that name later. We'll keep it a little -- they wanted to do it very quietly and that's OK with me, it could be quiet or not quiet. It's still about, I think, $18 billion. So, we're very close to that.
Lutnick: Now you're at $518 billion.
Trump: If you think about it. So, thank you all very much, great honor. You're great businesspeople, my friends. Almost all of you are friends and we appreciate it and our country will not let you down. You know, we hit a new high today in the stock market in history, and I think we've hit 48 highs since I've been here. I've only been there nine months, and we've hit 48 highs. So, it's really great. 48 highs and we solved nine wars -- no, eight wars and another one coming. I think Russia-Ukraine is coming. I thought that was going to be the easy one. We did the Middle East, but we didn't do that, but we'll get it done, but it's really a very good feeling to do that. But we really appreciate it and you have great companies, you're phenomenal businesspeople -- and beyond businesspeople, honestly. But thank you all very much. We appreciate it. We won't let you down. Thank you. Thank you.