U.S. President Donald Trump announced a 15% tariff on South Korean goods, lower than the previously threatened 25%, alongside a $350 billion investment pledge from South Korea for U.S.-controlled projects selected by him.
00:00US President Donald Trump has also announced a 15% tariff on South Korea goods, lower than the 25% previously threatened earlier this month.
00:11In a Truth Social post, Trump says South Korea has agreed to invest US$350 billion for investments owned and controlled by the United States and selected by himself.
00:22Trump also added that Seoul would purchase US$100 billion in liquefied natural gas and other energy products over the next 3.5 years.
00:34However, there appears to be a difference in how the two countries interpret the deal.
00:38South Korean President Lee Jae-myung said in a Facebook post that the deal will open doors for Korean companies to expand into the US market,
00:46especially in sectors like shipbuilding, semiconductors, batteries, biotech and energy.
00:52Lee highlighted that US$150 billion would be allocated specifically for shipbuilding cooperation.
00:59Meanwhile, Trump said that Lee is set to visit the White House within the next two weeks for his first meeting with the US President.
Be the first to comment