The U.S. and Japan still need to do a lot of work to hammer the funding details for three projects announced as part of a U.S.-Japan trade deal, according to the head of a Tokyo-backed bank involved in the negotiations.

“We believe these projects have become bankable, but there is still a lot of work that remains,” Nobumitsu Hayashi, the chief of the Japan Bank for International Cooperation, said Thursday during a news conference in Tokyo.

Hayashi said that Prime Minister Sanae Takaichi’s upcoming trip to the U.S. to meet with U.S. President Donald Trump in March is a timeline that the bank is conscious of as they work to push forward investments.

The initial batch of investment projects, announced earlier this month, includes outlays for a data infrastructure project, a deep-sea oil terminal and a facility to manufacture synthetic diamonds used for semiconductors.

JBIC, a government-backed bank, has become a crucial player in the U.S.-Japan trade deal as it takes on some of the funding of the $550 billion investment initiative alongside private companies and banks with a combination of loans and investments.

“We may want to progress in a certain way, but the question of whether the U.S. will respond in kind remains. They may also have different ideas,” he said, adding that he couldn’t say at this point how negotiations will progress.

“Of course, we have in mind the 45-day time frame and the U.S.-Japan leadership summit,” he added, referring to a clause in the trade agreement that indicates Japan will provide the funding for projects within 45 days of Trump selecting the project or risk a potential increase in tariffs.

The comments came after Trump instated a fresh 10% levy on Tuesday in response to the U.S. Supreme Court’s decision last week to strike down an initial round of so-called reciprocal tariffs as illegal. Japan agreed in July to create the $550 billion investment vehicle in exchange for securing a lower reciprocal tariff rate and lower duties on auto exports.

91AV原创 government has said it will continue to work on implementing the investment deal, even though the tariffs that had formed the basis for that agreement had been ruled illegal.

“We will continue to work on implementing the trade deal steadily and surely, and we will continue to seek the U.S. to do so as well,” Chief Cabinet Secretary Minoru Kihara said at a regular news briefing on Tuesday.