Japan and China recently agreed to cooperate more economically. Now, climbing tensions are threatening that cooperation.

There's already a framework in place to prioritize strategic industries like shipbuilding and AI. A group of advisors will make recommendations and President Trump will make the final selection.

Japan is already the biggest foreign investor in the U.S.

Also, Japan is not that big of a market for U.S. exports.

They can create perverse incentives that end up boosting foreign manufacturing.

They’re worried about deficits.

Japanese assets saw more than $50 billion worth of investment from abroad in April, according to a report from Nikkei Asia.

The president says the sale could threaten U.S. national security. The companies say they will fight the decision.

Hello Kitty, the famous Japanese character, turns 50 today. She’s earned billions for Sanrio, which created Hello Kitty and other cute characters. But it hasn’t always been smooth sailing for the business.

Investors are reminded why its risky to invest with borrowed money. Subscribe to get the “Make Me Smart” newsletter every Friday!