Japan, US Consider Nuclear Power Deal Worth Up to $100 Billion

Japan and the United States are negotiating to include a nuclear power project involving Westinghouse in Japan's massive $550 billion investment commitment. The potential deal could be announced when Japan's Prime Minister meets President Trump later this month.

Officials from Japan and the United States are in discussions to incorporate a nuclear energy initiative into the next phase of agreements under Japan’s massive $550 billion investment commitment, according to two individuals familiar with the negotiations who spoke to Reuters Wednesday.

The proposed nuclear initiative would include Westinghouse and aims to bolster energy supply chains for both nations amid ongoing Middle East conflicts that have raised fresh energy security concerns.

Multiple agreements are currently being negotiated and could potentially be revealed during Japanese Prime Minister Sanae Takaichi’s scheduled meeting with U.S. President Donald Trump in Washington on March 19, according to the sources who requested anonymity due to the confidential nature of the discussions.

Japan is working quickly to develop projects under investment pledges made as part of a U.S. trade agreement. The country has previously revealed three initiatives worth $36 billion combined, including a natural gas facility in Ohio.

Sources also indicated that officials are exploring a project to build a copper processing and refining plant.

To advance these discussions, Japan’s Trade Minister Ryosei Akazawa is scheduled to travel to the United States starting Thursday for meetings with U.S. Commerce Secretary Howard Lutnick, two additional sources familiar with the plans confirmed Wednesday.

Westinghouse appeared among approximately 20 companies listed in a joint statement released by both governments in October, identifying businesses that had shown interest in Tokyo-funded projects.

The American company, which is owned by Cameco and Brookfield, is exploring the construction of pressurized water reactors and small modular reactors with a total value reaching $100 billion, the joint statement indicated.

Japanese companies including Mitsubishi Heavy Industries, Toshiba and IHI could potentially participate, according to the statement.

In the previous year, the U.S. government established a partnership valued at no less than $80 billion with Westinghouse for nuclear reactor construction, highlighting Trump’s priority to boost domestic energy production as artificial intelligence data centers drive up energy demand.

The joint statement also mentioned that Falcon Copper is evaluating the construction of a $2 billion copper processing and refining facility while considering participation from Japanese suppliers and customers.

A representative from Japan’s industry ministry stated that officials were uncertain about the negotiation outcomes. Mitsubishi Heavy indicated that no decisions had been finalized and that equipment supply would be evaluated individually. Toshiba refused to provide comment. IHI said it would examine specifics if formal discussions developed.

Westinghouse and Falcon Copper were unavailable for comment outside regular business hours.