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Video6 min read

Remarks: Donald Trump Attends a Business Leaders Reception in Tokyo - October 28, 2025

12:00 AM
Howard Lutnick 00:00:00-00:00:57 (57 sec)

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.

Howard Lutnick 00:00:57-00:01:16 (19 sec)

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.

Howard Lutnick 00:01:16-00:02:02 (46 sec)

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.

Howard Lutnick 00:02:02-00:02:56 (54 sec)

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.

Howard Lutnick 00:02:56-00:02:59 (3 sec)

And Brendan Bechtel please come on up.

Brendan Bechtel 00:02:59-00:03:27 (28 sec)

Thank you. Thank you, Mr. President. Thank you very much. Thank you.

Howard Lutnick 00:03:27-00:04:15 (48 sec)

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 00:04:15-00:04:37 (22 sec)

Thank you. Thank you.

Howard Lutnick 00:04:37-00:05:49 (72 sec)

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.

Howard Lutnick 00:05:49-00:05:51 (2 sec)

And with us today is Michael Gierges.

Michael Gierges 00:05:51-00:05:53 (1 sec)

[Inaudible] in regard.

Donald Trump 00:05:53-00:05:54 (1 sec)

Thank you very much.

Michael Gierges 00:05:54-00:05:58 (4 sec)

Thank you very much.

Donald Trump 00:05:58-00:05:59 (1 sec)

Fantastic.

Michael Gierges 00:05:59-00:06:03 (4 sec)

[Inaudible] Thank you.

Howard Lutnick 00:06:03-00:06:59 (56 sec)

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.

Howard Lutnick 00:06:59-00:08:11 (73 sec)

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.

Howard Lutnick 00:08:11-00:08:54 (42 sec)

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.

Donald Trump 00:08:54-00:08:59 (5 sec)

$500 billion. [Laughter]

Howard Lutnick 00:08:59-00:10:02 (64 sec)

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.

Donald Trump 00:10:02-00:10:28 (25 sec)

I'm super excited. We're excited too. We're excited. Great job. Thank you.

Howard Lutnick 00:10:28-00:10:46 (19 sec)

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.

Donald Trump 00:10:46-00:11:09 (23 sec)

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.

Donald Trump 00:11:09-00:11:22 (13 sec)

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.

Howard Lutnick 00:11:22-00:11:25 (2 sec)

Now you're at $518 billion.

Donald Trump 00:11:25-00:11:43 (19 sec)

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.

Donald Trump 00:11:43-00:12:03 (20 sec)

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.

Donald Trump 00:12:03-00:12:29 (26 sec)

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.