Japan and the United States have agreed on the first round of projects to be funded by Japan under a $550 billion capital commitment made in a trade deal signed seven months ago, with a strategically important synthetic diamond factory on the list.

¡°Japan is now officially, and financially, moving forward with the FIRST set of Investments under its $550 BILLION Dollar Commitment to invest in the United States of America,¡± U.S. President Donald Trump wrote on Truth Social on Tuesday evening.

Three projects have been chosen.