US EditionSouth Korea trade deal appears elusive as Trump seeks $350B investment
The US agreed to reduce tariffs on South Korean automobiles to 15% in exchange for a $350 billion South Korean investment commitment, finalizing terms after intensive negotiations.
- President Trump is seeking a $350 billion investment from South Korea in the United States, but negotiations have been slow over the structure and format of the investments.
- South Korean officials say a direct cash injection could destabilize their economy, preferring loans and loan guarantees instead, and needing a currency swap line.
- While Trump secured $490 billion in commitments from Japan, South Korea faces 25% auto tariffs compared to 15% for Japanese and European competitors.
208 Articles
208 Articles
American and South Korean presidents Donald Trump and Lee Jae-myung today determined the details of the trade agreement, the implementation of which was faced with difficulties.
South Korea is investing 350 billion US dollars in the US, but according to Seoul, the United States is reducing tariffs on cars. There are even more details of the trade agreement.
US, South Korea reach deal on tariffs & investments, says presidential aide
The United States and South Korea have reached 'an agreement on the details of the tariff negotiations', which will bring US tariffs on automobiles to 15% in exchange for South Korea's $350-billion investments in the United States, according to a top aide of South Korean President Lee Jae Myung.
Donald Trump declared himself optimistic on Wednesday on the eve of a crucial meeting with Chinese President Xi Jinping in South Korea, leaving hope for a truce in the brutal trade war between the two powers, before announcing the conclusion of a trade agreement with Seoul.
US President Donald Trump assured Wednesday that a trade agreement had been "essentially finalized" with South Korean President Lee Jae Myung, after a meeting between the two leaders in the South Korean city of Gyeongju. ...
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