Foreign direct investment from Asia into the U.S. surged to nearly $1 trillion in 2023, but experts say project approvals are increasingly likely to come under scrutiny over perceived national security concerns. (Nikkei montage/Source photos by Getty Images and Yuki Nakao)

In Trump 2.0, Asia Inc. faces security minefield in path to U.S. investments

Red light for Nippon Steel, green for SoftBank: Domestic politics send mixed signals

KEN MORIYASU and PAK YIU

January 24, 2025 06:00 JST

WASHINGTON/NEW YORK -- On his triumphant return to the White House earlier this week, Donald Trump wasted no time signaling his "America First" agenda, hinting at plans for trade tariffs on the likes of China, Canada and Mexico that he says will protect the world's biggest economy.

Less clear is how he will handle foreign direct investment (FDI) that channeled $5.4 trillion into the U.S. in 2023, the last year for which numbers are available -- a 50% jump from 2016, the year before Trump's first inauguration as U.S. president.