U.S. President Donald Trump has unveiled his plans for a revamp of what he's called America's crumbling infrastructure. He wants one-and-a-half trillion dollars over a decade to spend on roads, highways, ports and airports to meet his campaign goals. Park Ji-won has more.
President Trump announced his highly-anticipated infrastructure investment plan on Monday,... hoping to generate some one-point-five trillion dollars of stimulus effect for the American economy.
"This morning, I submitted legislative principles to Congress that will spur the biggest and boldest infrastructure investment in American history. The framework will generate an unprecedented 1.5 to 1.7 trillion dollar investment."
Trump hopes to get 200 billion dollars authorized by Congress for the ten-year plan, while banking on states and the private sector to come up with the rest. He's set to meet congressional leaders this week in a bid to secure enough votes from the Senate to approve the plan. President Trump also said he'd impose reciprocal tax on imports, meaning levying the same rate of tariffs on foreign imports,... as other countries apply to American goods. He said the U.S. cannot continue to be taken advantage of due to unfair tariffs,... and singled out three countries, including South Korea.
"We cannot allow it to happen and we lose vast amounts of money with China and Japan and South Korea and so many other countries."
While details of the reciprocal tax are not yet available,... President Trump said more specifics will be announced over the coming weeks and months. Park Ji-won, Arirang News.
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