Trump Announces Upcoming Summit with President Lee After Agreeing to Trade Deal with South Korea
South Korea was pretty much forced to cut a deal with the Trump administration after the Japanese completed a deal just a week prior. They basically got the same trade deal as the Japanese:
U.S. President Donald Trump said Wednesday that his administration has agreed to lower “reciprocal” tariffs on South Korea to 15 percent from the proposed 25 percent in return for massive investments and market opening, and hold a summit with President Lee Jae Myung at the White House in two weeks.
Trump announced the deal with South Korea in a social media post, shortly after Seoul’s Finance Minister Koo Yun-cheol and other top negotiators met him in an effort to finalize an agreement before Friday, when the steep blanket tariffs are set to take effect unless a deal is reached.
“We have agreed to a Tariff for South Korea of 15%. America will not be charged a Tariff,” he wrote on Truth Social.
Under what he called a “full and complete” trade deal, Trump said South Korea will give the United States US$350 billion for investments “owned and controlled by the United States, and selected by myself.”
He claimed South Korea has agreed that it will be “completely” open to trade with the U.S., and that it will accept American products, including cars, trucks and agricultural goods.
The deal also includes South Korea’s agreement to purchase $100 billion of U.S. liquefied natural gas or other energy products, and invest a large sum of money for Seoul’s investment purposes, Trump said.
“This sum will be announced within the next two weeks when the President of South Korea, Lee Jae Myung, comes to the White House for a Bilateral Meeting,” he said.
You can read more at the link.
The American and South Korean people are the winners here.
The American and South Korean people are the winners here.
@setnaffa statement effectively praises the liberal government of Lee Jae Myung, claiming it’s doing a better job than the disgraced, impeached right-wing presidency of Yoon Suk Yeol.
“@setnaffa statement effectively praises the liberal government of Lee Jae Myung, claiming it’s doing a better job than the disgraced, impeached right-wing presidency of Yoon Suk Yeol.”
No. Trump was looking out for both American and Korean people.
The Lee administration tried to supply comfort women and give away Dokdo, but Trump declined.
CH is correct. I was not praising any particular government leaders, except that the trade deal will help the ordinary people in both countries as their economies heal from increased fair trade.
I was not praising any particular government leaders,
Considering @setnaffa’s history of spreading fake news and misinformation in addition to lying, I find that hard to believe.