Washington: US President Donald J. Trump announced that his country has reached "a Full and Complete" trade deal with the Republic of Korea. Under the agreement, South Korea will contribute USD 350 billion for investments "owned and controlled by the United States, and selected by myself, as President," he stated in a post on his Truth Social platform.
According to Kuwait News Agency, South Korea will also purchase USD 100 billion worth of LNG or other energy products from the United States. Furthermore, South Korea has committed to making a significant investment for their own purposes, with the exact sum to be revealed in the coming weeks when South Korean President Lee Jae Myung visits the White House for a bilateral meeting. President Trump extended his congratulations to President Lee on his electoral success.
The agreement also ensures that South Korea will remain fully open to trade with the United States, accepting American products such as cars, trucks, and agricultural goods. The deal includes a 15 percent tariff on South Korean goods, while American exports will not face any tariffs. President Trump expressed his gratitude to the trade representatives involved in the negotiations, praising the success of their country.