The Japanese government, not companies, is poised to back U.S. infrastructure projects of the president’s choosing.

When President Donald Trump revealed that his administration had struck a "massive" trade and investment deal with Japan, he described it as "completed"—but it must still pass the Japanese parliament, called the Diet, which is riven with political turmoil.

President Trump will get to decide where to invest Japanese money and the United States will keep 90 percent of the profits, the White House said.