Trump announces a trade agreement with South Korea, as it sets definitions by 15 %

US President Donald Trump announced on Wednesday that Washington had reached a “complete and complete” commercial deal with Seoul, and put a battle tariff on the country’s exports to us by 15 %.

This deal means that duties will be reduced from the 25 % that Trump threatened in the “tariff speech” to Seoul earlier this month. The customs tariff will also be reduced on car exports in the country by 25 % to 15 %.

Trump also said in his position on the social media platform, that South Korea “will provide the United States 350 billion dollars to investments owned and control by the United States, and choose it myself, as president.”

There seems to be a difference in interpretation between Seoul and Washington on how to use this amount.

He announced in a Facebook post that his country “has concluded customs tariff negotiations” with the United States, and South Korean President Lee Jay Meong said that the fund of $ 350 billion “will play a role in facilitating the active entry of Korean companies in the market in the industries that we enjoy in the industries, such as building in the field of ships, secondary, vitality, energy, energy, energy, to some extent. Korean.

He said that 150 billion dollars of this allocation will be “for cooperation in the construction of ships, which provides strong support for the Korean companies that enter the American shipbuilding industry,” adding that “it is important to achieve useful results for both parties, and not only to follow the gains from one side.”

“90 % of the profits” of this investment of $ 350 billion will be “going to the American people.” This is similar to what Trump announced about Japan’s investment in the United States as part of an agreed trade deal earlier this month, which was challenged by Tokyo.

The government of Japan said on Friday that profits from an investment of $ 550 billion were agreed upon in the customs tariff deal with the United States, which will be divided between the two countries based on its contribution, according to the Reuters report.

Trump also said on Wednesday that as part of the deal, Seoul will buy $ 100 billion of LNG or other energy products from the United States, adding that Seoul has also agreed to invest a “large amount of money for its investment purposes.” The amount will be revealed when Washington will visit me for a bilateral summit within the next two weeks.

He added that the American goods will not be subject to any tariff. As of 2024, the effective tariff for South Korea for goods imported from the United States It was about 0.79 %. Seoul has a free trade agreement with The United States since 2012.

“I hope that through this, industrial cooperation between Korea and the United States will be strengthened and the alliance between Korea and America will be strengthened,” to me, with the addition that Seoul will maintain “the diplomacy stationed on the national interest” as its principle.