Selection has started on a second round of projects to be funded by Japan under its $550 billion capital commitment to the United States, according to reports, with next-generation nuclear reactors on the short list.

Under the terms of an agreement reached last year in the course of tariff negotiations, a U.S. committee selects projects for Japan to fund and then a committee with Japanese participation provides input before the project is sent to President Donald Trump for his consideration.

A TBS report on Thursday said the construction of several next-generation nuclear reactors is being considered as part of a second round of projects, and that an announcement could be made when Prime Minister Sanae Takaichi meets with Trump in Washington next month.

The first projects were announced earlier this week: a $33 billion natural gas power plant in Ohio, a $2.1 billion deepwater crude oil export facility in Texas and a $600 million synthetic industrial diamond plant in Georgia.

The three projects combined will consume $36 billion of the $550 billion total capital committed.

A Wednesday statement issued by Japan’s trade ministry said Japan and the United States will continue to coordinate on implementation of these projects and ensure smooth project execution.

Stock prices of electric wire and heavy machinery makers rose in Tokyo trading after the announcement of the first round of projects. Sumitomo Electric was up more than 10% over the past five days, and Furukawa Electric was up 6.8%.

In a trade deal struck last July, Japan agreed to commit $550 billion to critical industries and technologies in the United States, in exchange for lower tariffs on Japanese automobiles and other products.

While the financing structure has not yet been disclosed in detail, comments from Japan and the United States indicate that Japan will get a return from its outlay.

“The proceeds are structured so Japan earns its return, and America gains strategic assets, expanded industrial capacity, and strengthened energy dominance,” U.S. Commerce Secretary Howard Lutnick said in a statement regarding the first batch of projects.

“The reason it takes time is precisely because we engage in discussions with the United States until we are fully satisfied on two key points — what concrete benefits there are for Japan, and whether the projects can proceed without generating losses,” trade minister Ryosei Akazawa said on Friday.

“The MOU clearly stipulates how we will recover the capital we invest — including the principal, interest and guarantee fees. In accordance with those terms, we move projects forward only after establishing a clear prospect that the invested capital can be recovered,” he added.