This week’s episode of “WisBusiness: the Podcast” is with Andrew Seaborg, honorary consul of Japan in Wisconsin.
He provides insights on the newly launched Wisconsin-Japan Strategic Investment Partnership, which will help companies in the state understand Japan’s “historic” Strategic Investment Initiative. This pledge to invest $550 billion in the United States over the next three years was announced last year as part of a trade agreement with the Trump administration.
“It’s important to remember that Japan has been the largest foreign direct investor in the United States for more than a decade,” Seaborg said. “Total foreign investment in the United States already approaching a trillion dollars … I kind of view this as they’re speeding up their timetable for investment over the next couple of years.”
The White House entered into a memorandum of understanding with Japanese Prime Minister Sanae Takaichi outlining the program, though Seaborg noted “there’s not a ton of detail on this” at this stage.
Still, it’s clear the SII will focus on key sectors including advanced manufacturing, biohealth, energy, semiconductors, critical minerals and ship building, he said. He noted projects under SII need to have an established Japanese partner or “nexus” to be considered.
“It’s a massive opportunity,” he said. “One of the reasons … we started WJSIP is to give Wisconsin companies the longest possible runway and the biggest headstart.”
The trade deal that led to the half-trillion dollar pledge was reached after the U.S. government had initially levied tariffs of 25% to 50% on Japan, Seaborg noted. While the deal secured lower tariffs for Japan, he said “it’s a little unfortunate that we went after our friends.”
Seaborg also touted Japan’s approach to international business.
“Japan is an absolutely brilliant partner … they respect intellectual property, they have a wonderful track record for creating very high paying, family-sustaining jobs,” he said. “They take a long-term approach to all of their investment in the United States.”
The effort was launched with the support of former Wisconsin Gov. Tommy Thompson, who chairs the WJSIP. See more in a recent story.
Listen to the podcast below, sponsored by UW-Madison:
