Japan and United States are working to include a nuclear power project in the second round of deals under Japan’s $550 billion investment initiative, sources familiar with the discussions said.
The nuclear project, expected to involve Westinghouse, aims to strengthen energy supply chains for both nations amid rising concerns over energy security following renewed instability in the Middle East.
Several investment deals are being discussed and could be announced when Japanese Prime Minister Sanae Takaichi meets Donald Trump in Washington on March 19, according to the sources, who requested anonymity because the talks are private.
Tokyo is accelerating efforts to develop projects under its investment commitments tied to a previous U.S. tariff agreement. It has already announced three initiatives worth $36 billion, including the construction of a natural gas power plant in Ohio.
A copper smelting and refining facility is also under consideration as part of the broader investment push, the sources added.
To advance negotiations, Japan’s Trade Minister Ryosei Akazawa plans to visit the United States and meet with U.S. Commerce Secretary Howard Lutnick, sources close to the matter confirmed.
Westinghouse was among roughly 20 firms identified in a joint government fact sheet issued in October as potential participants in projects financed by Tokyo. The U.S. company—owned by Cameco and Brookfield—is exploring construction of pressurised water reactors and small modular reactors valued at up to $100 billion.
Japanese industrial firms, including Mitsubishi Heavy Industries, Toshiba, and IHI, could also participate in equipment supply and engineering roles.
Last year, the U.S. government signed an at least $80 billion partnership with Westinghouse to expand nuclear reactor construction, reflecting Trump’s broader strategy to boost domestic energy production as demand for power grows from artificial intelligence and data centre expansion.
The joint fact sheet also highlighted a potential $2 billion copper smelting and refining facility under consideration by Falcon Copper, with opportunities for Japanese suppliers and investors.
An official from Japan’s industry ministry said the government cannot predict the outcome of negotiations. Mitsubishi Heavy stated that no final decisions have been made and that equipment deals would be assessed case by case. Toshiba declined to comment, while IHI said it would review details if substantive talks progress.
Westinghouse and Falcon Copper did not respond to requests for comment.