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(Bloomberg) -- Japan expects just 1% to 2% of its recently agreed upon $550 billion US fund to be deployed as investment, with loans making up the majority, according to the nation’s top chief negotiator Ryosei Akazawa.

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Meanwhile, Tokyo stands to save roughly ¥10 trillion ($68 billion) through lower tariff rates in its deal with the US, Akazawa told public broadcaster NHK on Saturday.

The details revealed by Akazawa suggest the Japanese may end up giving up much less than at first glance.

The $550 billion investment framework combines investments, loans and loan guarantees provided by financial institutions backed by the Japanese government, Akazawa said. Of the total, investment will comprise 1% or 2% and the US and Japan will split the profits of that investment at a ratio of 90-10, he said. Japan had originally proposed a 50-50 ratio, he added.

Officials from Japan and other countries that struck deals with the US are now sifting through the terms to explain them to the public. The fund is a centerpiece of the deal announced by the two sides that will impose 15% tariffs on Japanese cars and other goods.

“It’s not that $550 billion in cash will be sent to the US,” Akazawa said. “By letting the US have 90% of the profits rather than 50%, I think Japan’s loss will be at most a couple of tens of billions of yen. People are saying various things, such as ‘You sold out Japan,’ but they’re wrong.”

For loans provided through the program, Japan will collect interest payments; and for loan guarantees, if nothing happens Japan will collect fees, Akazawa said. “For that part, Japan’s just making money,” he said.

Akazawa also clarified that the investment program won’t be only supporting Japanese and US firms. As a potential example, he cited a Taiwanese semiconductor firm building a factory in the US.

“We’d like to put the $550 billion in place during President Trump’s term,” Akazawa added.

Further details of the implementation of the US-Japan deal remain unclear, including when the new tariff rates will take effect and when the new investment vehicle will start. There’s been no joint document signed by both sides for the deal, although the White House has published a fact sheet.

“If you say something like, ‘Let’s create a joint document,’ they will say, ‘We’ll lower tariffs after the document is created,’” Akazawa said. In order to not lose time, “we will demand that they issue an executive order to lower tariffs as soon as possible, regardless of a document.”

Last week, Akazawa said he expects universal tariffs on Japan’s shipments to be lowered to 15% on Aug. 1. He said he wants car tariffs to be cut to 15% as soon as possible without specifying a date.

The Trump administration has touted the deal with Japan as a potential model for others. On Sunday, the US and European Union agreed on a deal that will see the bloc face 15% tariffs on most of its exports with the EU pledging to invest $600 billion in the US.

--With assistance from Takashi Hirokawa.