> Lutnick said an investment committee will suggest projects to fund through Japan's cash pile.

An interesting twist on the theme of state capitalism. A planning committee will direct the funds of a 3rd party state, in exchange for "less bad" tariff rates.

Aside of a few recalcitrants, neither party is willing to defend laissez-faire in any form. Whether this latest effort at central planning succeeds or fails, the opposition will describe it as a failure of "capitalism". It isn't exactly clear what that term means anymore, beyond a vague image of monocled men chomping at cigars while wearing excessively tall stovepipe hats.