British media: US-Japan trade deal is now cracked, Japan denies US 90% profit-sharing plan

According to the Financial Times, there is a clear disagreement between the United States and Japan over the interpretation of the details of the previous agreement. Tokyo said on Friday that for the United States to receive 90% of the joint investment profits, it must assume the corresponding proportion of risk and financing responsibilities. Earlier, US Commerce Secretary Lutnik announced that under the framework of the latest tariff agreement, Japan will contribute to the investment of $550 billion in strategic industries in the United States, and the United States will receive 90% of the profits. But a slide released by the Cabinet Office on Friday made it clear that the profit distribution "will be determined according to the degree of contribution and risk assumed by each party". Japanese officials pointed out that Japan and the United States have not reached any written agreement on the investment, nor have they signed a legally binding agreement. The deal was hastily agreed in a 70-minute meeting on Tuesday between Ryoshasa Akasawa, Japan's chief negotiator, and the US, according to people familiar with the matter, as the Trump team rushed to finalise the deal, fearing it would have to be renegotiated if Shigeru Ishiba, Japan's prime minister, were to step down due to political instability.