US and South Korea Reach Trade Deal To Reduce Tariffs, Build Nuclear Submarines

TaiwanPlus News

A new trade deal between the US and South Korea will see Washington lower tariffs to 15 percent, while Seoul would invest US$350 billion in American industries. Later, US President Donald Trump announced that the US would help South Korea to build nuclear-powered submarines.

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00:00Meanwhile, the U.S. and South Korea have hashed out their own new trade deal.

00:04And that will see Washington lower tariffs, while Seoul will invest $350 billion U.S. dollars in American industries.

00:11U.S. President Trump imposed a 25 percent tariff on South Korea earlier this year,

00:16but that will be reduced to 15 percent following Seoul's cash investment and oil and gas purchases.

00:22Later, Trump announced on social media that he will help South Korea build a nuclear-powered submarine.

00:28The U.S. will share highly guarded military technology to help with construction.

00:33This technology was not shared in a similar deal with the U.K. and Australia.

00:37The announcement comes after North Korea unveiled plans to build its first-ever nuclear-powered submarine earlier this year.

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