[ad_1]
‘The Massive Cash Present’ talks President Donald Trump’s commerce technique as he secures a cope with the European Union.
President Trump introduced Wednesday that the U.S. and South Korea have reached a complete commerce settlement, wherein the East Asian nation will make investments $350 billion in American tasks chosen by Trump.
South Korea, which has agreed to be “utterly open” to commerce with the U.S., will now face a lowered tariff of 15% on imported items — down from the deliberate 25%, which might have gone into impact on Aug. 1, Trump mentioned.
TRUMP URGED TO TAKE ON SOUTH KOREA OVER TECH REGULATIONS THAT TARGET US, SPARE CHINA
“I’m happy to announce that the USA of America has agreed to a Full and Full Commerce Cope with the Republic of Korea,” Trump mentioned in a Fact Social publish Wednesday. “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.”
U.S. President Donald Trump in Turnberry, Scotland, Britain, July 27, 2025. (Evelyn Hockstein/Reuters / Reuters Photographs)
As a part of the deal, the U.S. President mentioned South Korea will even buy $100 billion price of liquefied pure fuel (LNG) or different power merchandise.
TRUMP, SOUTH KOREA’S NEW PRESIDENT AGREE TO MAKE A DEAL ON TARIFFS THAT WOULD SATISFY BOTH COUNTRIES
“Moreover, South Korea will buy $100 Billion {Dollars} of LNG, or different Power merchandise and, additional, South Korea has agreed to take a position a big sum of cash for his or her Funding functions,” Trump mentioned. “This sum can be introduced inside the subsequent two weeks when the President of South Korea, Lee Jae Myung, involves the White Home for a Bilateral Assembly.”
Newly elected South Korean President Lee Jae-myung speaks throughout a press convention on the presidential workplace on June 04, 2025 in Seoul, South Korea. (Ahn Younger-Joon/Getty Pictures / Getty Pictures)
Within the Fact Social publish, Trump congratulated South Korean President Lee Jae-myung on his current election win. South Korean voters swung left within the presidential race final month, and conservative candidate Kim Moon-soo conceded defeat to liberal opponent Lee within the snap election.
CHINA ASKS SOUTH KOREA NOT TO EXPORT RARE EARTH PRODUCTS TO US DEFENSE, WARNS COMPANIES COULD BE SANCTIONED
“I’d additionally wish to congratulate the brand new President on his Electoral Success. It’s also agreed that South Korea can be utterly OPEN TO TRADE with the USA, and that they’ll settle for American product together with Automobiles and Vans, Agriculture, and many others,” Trump mentioned. “… I want to thank the Commerce Representatives who got here ahead right this moment. It was an Honor to fulfill them, and speak concerning the Nice Success of their Nation!”
U.S. Secretary of State Marco Rubio chats as he arrives for a handshake for photographers with Pakistani Deputy Prime Minister and International Minister Ishaq Dar on the State Division in Washington, D.C., U.S., July 25, 2025. (Reuters / Reuters Photographs)
The announcement comes simply hours after Trump introduced that the U.S. had reached a commerce cope with Pakistan wherein the 2 nations will work collectively to develop the South Asian nation’s oil reserves.
CLICK HERE TO GET FOX BUSINESS ON THE GO
Earlier this month, Trump introduced the U.S. would impose 25% tariffs on items imported from Japan and South Korea, efficient Aug. 1.
The White Home didn’t instantly reply to Fox Enterprise’ request for remark.
[ad_2]
