WASHINGTON — President Trump introduced Wednesday night that he had reached an settlement with South Korea that may embrace $350 billion in funding from Seoul and lock in a 15% tariff fee for the Asian nation.
“I am pleased to announce that the United States of America has agreed to a Full and Complete Trade Deal with the Republic of Korea,” Trump, 79, wrote on Reality Social.
The Deal is that South Korea will give to the USA $350 Billion {Dollars} for Investments owned and managed by the USA, and chosen on my own, as President,” he added. “Additionally, South Korea will purchase $100 Billion Dollars of LNG, or other Energy products and, further, South Korea has agreed to invest a large sum of money for their Investment purposes.”
Whereas South Korean imports to the US might be slapped with a 15% obligation, Trump stated the US “will not be charged a Tariff.”
The president had set an Aug. 1 deadline for international locations to conform to one-for-one commerce offers with Washington or face probably steep reciprocal levies.
Earlier Wednesday, Trump met with South Korean officers on the White Home to hammer out particulars of the settlement.
“I would like to thank the Trade Representatives who came forward today,” the president stated. “It was an Honor to meet them, and talk about the Great Success of their Country!”
