Japanese trading house Mitsui could consider studying a project to liquefy natural gas in Alaska, but no decisions have been made yet, Chief Financial Officer Tetsuya Shigeta said on Tuesday.

Japan is considering offering support for a $44-billion gas pipeline in Alaska as it seeks to court U.S. President Donald Trump and forestall potential trade friction, sources said last week.

Shigeta said he hoped a meeting expected this week between Prime Minister Shigeru Ishiba and Trump would help enhance Japan¡¯s presence in the United States, reaffirming its role as the latter¡¯s largest source of investment.

Asked about the reported LNG development in Alaska, Shigeta said it was a natural candidate for consideration, presenting a valuable opportunity because of its proximity to Japan and other Asian countries.

¡°But we have nothing we can talk about now, including our policy,¡± he added.

China on Tuesday slapped tariffs on some U.S. imports in a swift response to new U.S. duties on Chinese goods, renewing a trade war between the world¡¯s top two economies even as Trump offered reprieves to Mexico and Canada.

Mitsui¡¯s automobile and steel products business in Mexico and Canada could be affected by potential U.S. tariffs, though the increasing geopolitical risks from tariffs and retaliatory measures could provide a great business opportunity for the company to help rebuild U.S. supply chains, Shigeta said.

Mitsui¡¯s U.S. domestic businesses such as steel products, used cars and chemicals could also benefit by the tariffs, but shrinking global trade volumes would be a risk, as its business model focuses on solving issues in the global logistics supply chain, he added.

On Monday, Mitsubishi, which led all three consortia winning Japan¡¯s first offshore wind auctions in 2021, said it was reviewing its offshore wind business at home amid soaring costs and the weak yen, signaling that Tokyo¡¯s renewable energy plans are not immune to global trends.

Mitsui, in partnership with others, won an offshore wind farm development right in 2023.

¡°We are facing challenges due to soaring construction costs and foreign exchange rate fluctuations, but we plan to continue to promote our business firmly,¡± Shigeta said.