Gyeongju: US President Donald Trump announced on Wednesday that he reached a trade deal with his South Korean counterpart Lee Jae Myung that was "pretty much finalized." Trump made the statement shortly after emerging from a summit with Lee in Gyeongju, the host city for this year's Asia-Pacific Economic Cooperation (APEC) meetings. The announcement was made as Trump attended a dinner hosted by Lee, where he confirmed the deal in response to a reporter's question about the trade agreement.
According to Kuwait News Agency, under the agreement, South Korea has committed to investing USD 350 billion in the United States. In return, Washington will lower "reciprocal" tariffs on South Korean goods from 25 percent to 15 percent. This development was highlighted by Trump, who remarked that "we reached a conclusion on a lot of very important items." The discussions between the two leaders also covered a broad agenda that included topics such as economic ties, alliance modernization, peace on the Korean Peninsula, and regional security issues. This was reported by National Security Adviser Wi Sung-lac.
The South Korean President reaffirmed his dedication to achieving denuclearization on the Korean Peninsula through a three-stage roadmap designed to halt, reduce, and dismantle North Korea's nuclear program. Meanwhile, President Trump expressed his concerns over the "growing threat" posed by North Korea's nuclear capabilities, as noted by the source.