Washington: the President of the United States Donald Trump declared on Wednesday (31 July) that the United States will impose a 15 % charge on imports from South Korea, whereas it has marketed a “full and full business settlement” between the 2 international locations.
The 15 % charge is lower than a 25 % charge that Trump had beforehand threatened.
“South Korea will give the United States 350 billion {dollars} for investments,” Trump stated in a put up on his social platform of fact, including that the nation would purchase 100 billion {dollars} in liquefied pure gasoline or different power merchandise.
Of the 350 billion greenback funding fund, $ 150 billion will likely be geared toward a naval building partnership, stated the South Korean president Lee Ja-Myung Thursday, including that the tariff settlement with the United States would put South Korea on an equal or higher degree in comparison with different international locations.
“It can be agreed that South Korea will likely be utterly open to commerce with the United States and that they may settle for American merchandise together with vehicles and vans, agriculture, and so on.”, added Trump.
It was not instantly clear how the funding presents would have been structured or through which time period. The President of the United States stated that additional investments will likely be introduced later.
Lee will go to the White House “By the following two weeks” for a gathering with Trump.
