The United States has concluded a trade agreement with South Korea, under which South Korean imports will be taxed with tariffs of 15%, President Donald Trump announced, quoted by Reuters and BTA.
In addition, South Korea will invest $ 350 billion in the United States and buy energy products worth $ 100 billion, Trump wrote in a post on “Truth Social“.
“It was also agreed that South Korea will be completely OPEN FOR TRADE with the United States and that it will accept American products, including cars and trucks, agricultural products and others“, Trump added.
South Korean President Lee Jae-myung said that his country's agreement with the United States will put South Korea in an equal or better position than other countries.
He said the two countries had agreed to create a $350 billion investment fund, of which $150 billion would be earmarked for shipbuilding partnerships.
Meanwhile, South Korean Defense Minister Ahn Kyu-bak and U.S. Defense Secretary Pete Hegseth discussed in a phone call the possibilities for closer cooperation on North Korea and shipbuilding, Yonhap news agency reported.