President Joe Biden is seeking to reignite interest in a plan to build America’s first high-speed rail using Japan’s Shinkansen bullet trains, and sources say he may discuss the plan with Japan’s prime minister in Washington this week. is said to be high.
After Wednesday’s meeting, the leaders are likely to publicly express support for the multibillion-dollar Texas project, but the U.S. opposition to another Japanese investment, Nippon Steel’s planned takeover of U.S. Steel Partially shadowed.
Prime Minister Fumio Kishida’s state visit to Washington, the first by a Japanese leader in nine years, is aimed at highlighting the close security and economic ties between the allies.
A project connecting Dallas and Houston will be on the agenda of the talks, said three sources familiar with the summit preparations, speaking on condition of anonymity because they were prohibited from speaking to the media.
According to two sources familiar with the matter, it is likely to be mentioned in a joint statement after the meeting.
But Biden administration officials said the project doesn’t appear to be mature enough for leaders to publicly announce progress.
Stakeholders cautioned that details of the final agreement may change prior to the visit.
Japan’s Foreign Ministry declined to comment, saying the two governments were still coordinating a joint statement from the meeting. The White House declined to comment.
With support from leaders, new funding could come from other sources at the Federal Railroad Administration and the Department of Transportation.
But the project, estimated to cost between $25 billion and $30 billion, still faces potential hurdles in Texas and the U.S. Congress.
Biden administration Secretary of Transportation Pete Buttigieg expressed support for the plan.
“We believe in this,” he said in an interview with NBC 5 on Sunday. “Obviously we have to turn it into a more specific design and vision, but everything I’ve seen makes me very excited.”
The United States, with its long distances between major cities, large commuter population, and lack of public transportation, has attracted multiple high-speed rail projects.
But none have been built, hampered by political wrangling, land ownership mysteries and rising costs.
A rail link between Houston and Dallas, the fourth and fifth largest metropolitan areas in the United States by population, has been discussed since the 1980s.
Previous efforts have been hampered by opposition from private landowners along the route.
Supporters of the project argue that Mr. Biden and Mr. Kishida’s support will help attract funding from private investors for the “shovel-ready” plan.
The 240-mile rail link, built and operated by Texas Central Partners and Amtrak, is expected to reduce travel time between cities from 3.5 hours by car to about 90 minutes.
Japan’s national financial institutions, including Kokusai Corporation, are providing financing to support the development of this project, which will procure Shinkansen technology from Central Japan Railway Company.
The project’s progress is a victory for the Biden administration, which is pushing for climate-friendly policies and rail investment.
But this is particularly true of the United States, which has opposed public funding for railroad projects in the past and now opposes public funding for rebuilding the Francis Scott Key Bridge in Baltimore. It is likely to draw criticism from hard-line Republicans in the House of Representatives. Cargo ship last month.
A possible plan has emerged in which Mr. Biden opposes Nippon Steel’s plan to buy U.S. Steel, saying the company must remain in American hands and agreeing to support the company’s leaders.
Biden, who signed a $1 trillion infrastructure bill in 2021 that includes $66 billion in rail projects, will face Donald Trump in a rematch of the presidential election in November.
With the economy at the top of voters’ concerns, Democratic President Biden is pushing ahead with government-backed construction projects that aides say will create jobs and ease inflationary pressures.
