Japan is reportedly offering to buy up to $6.94 billion worth of US semiconductors

Japan is reportedly offering to buy up to $6.94 billion worth of U.S. semiconductors as part of ongoing trade negotiations with Washington, according to the Asahi newspaper, which cited an unnamed source.

The Japanese government would provide subsidies to domestic firms purchasing chips from U.S. companies like Nvidia, aiming to help reduce the roughly 10 trillion yen trade surplus Japan holds with the U.S.

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Japan’s chief tariff negotiator, Ryosei Akazawa, is expected to travel to the U.S. around May 30 for a fourth round of trade discussions.

This article was written by Eamonn Sheridan at www.forexlive.com.