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原文標題：
U.S. will split profits with Tokyo from Japan-funded projects until $550
billion is recouped: Lutnick
原文連結：https://tinyurl.com/ztsuk3zb
發布時間：Published Thu, Sep 11 2025 2:40 PM EDTUpdated 2 Hours Ago
記者署名：Alex Harring
原文內容：

Commerce Secretary Howard Lutnick said Thursday that the U.S. will equally
share profits with Japan from projects funded by the Asian country through its
 tariff deal until the initial investment is recouped.
商務部長霍華德· 盧特尼克週四表示，美國將與日本平分由該國透過關稅協議出資的專案
利潤，直到最初的投資得到回收為止。

Tokyo agreed to earmark $550 billion for investment in American-based projects
 selected by the U.S. government as part of a deal finalized last week.
President Donald Trump said Japan will now face 15% baseline tariffs and some
sector-specific levies under the two countries’ deal.


Lutnick said the U.S. will initially split profits equally on projects funded
through Japan’s investment. Once Japan earns back its $550 billion, the
profit breakdown will shift to the U.S. receiving 90% and Tokyo taking the
remaining 10%, Lutnick said.
盧特尼克指出，美國將在初期與日本平分由日方投資的專案利潤。一旦日本收回其5500億
美元投資，利潤分配將改為美國拿90%，東京拿剩下的10%。

“After that, it’s 90/10, in favor of America,” Lutnick said Thursday on
CNBC’s “Squawk on the Street.”
「之後將是90/10，對美國有利。」盧特尼克週四在 CNBC《Squawk on the Street》節目
上表示。

Lutnick said an investment committee will suggest projects to fund through
Japan’s cash pile.
盧特尼克表示，一個投資委員會將建議哪些專案可以利用日本的資金投入。

After receiving Trump’s approval, the U.S. will hire construction workers and
 send a “capital call” to Japan, he said, acknowledging that Japan has to “
blow up their balance sheet” and borrow money to fund the projects.
在獲得川普批准後，美國將聘用建築工人，並向日本發出「資金請求」。他承認，日本必
須「擴張資產負債表」，也就是舉債來為這些專案提供資金。

But Lutnick said it shouldn’t ultimately cost Japanese taxpayers anything in
the long run, assuming they get the invested money back from the projects. On
top of that, Japanese consumers will benefit from a lower tariff rate, he said
.
但盧特尼克說，從長遠來看，假設日本能從專案中收回投資，那麼這不會最終花費日本納
稅人的錢。此外，他還表示，日本消費者將受惠於較低的關稅稅率。

“For their country’s perspective, it’s a good deal,” Lutnick said.
「從他們國家的角度來看，這是一筆好交易。」盧特尼克說。

The U.S., meanwhile, gets funds to prop up domestic manufacturing,
facilitating projects such as nuclear power plants, he said. Lutnick also
pointed to antibiotics as a domestic manufacturing priority.
與此同時，美國則獲得資金來支撐國內製造業，推動如核電廠等專案。盧特尼克還提到，
抗生素是美國國內製造業的優先事項之一。

Lutnick’s comments come as many of Trump’s tariffs hang in legal limbo. The
Supreme Court has agreed to hear an appeal of a lower court ruling on a fast
timeline. That decision found many of the president’s most severe levies were
 illegal.
盧特尼克的評論出現在川普的許多關稅仍陷於法律爭議之際。最高法院已同意加速審理一
項上訴，挑戰下級法院的裁定。該裁定認為，總統的許多嚴厲徵稅措施是非法的。

Oral arguments are scheduled for the first week of November.
口頭辯論定於11月的第一週舉行。

心得/評論：

巨額投資承諾
日本承諾投入 5500億美元（相當於日本年度國防預算的數倍），
資金專款專用於美國政府選定的專案。
日本可能需要舉債（“blow up their balance sheet”），等於增加國家財政壓力。


利潤分配極度不對稱
初期：利潤 50/50 分成，直到日本收回本金。
本金回收後：利潤分成美國90%，日本10%，
顯然對美國高度有利，日本幾乎成了長期小股東。


主導權在美國
專案由美國投資委員會與川普政府決定，日本沒有選擇權。
日本只是提供資金，工程由美方雇用美國工人，資金流向幾乎全在美國境內。


關稅壓力與交換



潛在風險
如果專案收益不佳，日本可能收不回本金，甚至陷入財政損失。
即便收回本金，日本在長期利潤分配中幾乎被邊緣化。

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※ 作者: TyuzuChou 2025-09-12 19:57:20
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