AsianFin -- Japan has proposed purchasing billions of dollars' worth of U.S. semiconductor products as part of ongoing tariff negotiations with Washington, the Asahi Shimbun reported, citing an unnamed source.

The Japanese government plans to subsidize domestic firms to import chips from U.S. companies like Nvidia, with total purchases potentially reaching up to 1 trillion yen ($6.94 billion). The move aims to help narrow the roughly 10 trillion yen trade deficit the U.S. currently runs with Japan, according to the report.