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Trump says he's reached trade deal with South Korea
President Trump said early Wednesday that the U.S. has “pretty much” reached a trade deal with South Korea.
“We reached a deal. We did a lot of different things. Great session,” Trump told reporters, according to a White House pool report. “We came to a conclusion on a lot of very different items.”
The White House has not offered any additional information on the deal.
South Korean President Lee Jae Myung’s chief of staff Kim Yong-beom told reporters the two counties had reached “an agreement on details” in tariff negotiations, according to The New York Times. The aide said the Trump administration’s tariffs on the Asian nation would drop from 25 percent to 15 percent.
South Korea has been subject to a 25 percent import tax on automobiles, making business difficult for South Korean carmakers such as Hyundai and Kia.
A sticking point between Seoul and Washington has been Trump’s push for the trading partner to directly invest $350 billion into the U.S. South Korean leaders have expressed trepidations about the demand, pushing instead for loans and loan guarantees.
“We reached a deal. We did a lot of different things. Great session,” Trump told reporters, according to a White House pool report. “We came to a conclusion on a lot of very different items.”
The White House has not offered any additional information on the deal.
South Korean President Lee Jae Myung’s chief of staff Kim Yong-beom told reporters the two counties had reached “an agreement on details” in tariff negotiations, according to The New York Times. The aide said the Trump administration’s tariffs on the Asian nation would drop from 25 percent to 15 percent.
South Korea has been subject to a 25 percent import tax on automobiles, making business difficult for South Korean carmakers such as Hyundai and Kia.
A sticking point between Seoul and Washington has been Trump’s push for the trading partner to directly invest $350 billion into the U.S. South Korean leaders have expressed trepidations about the demand, pushing instead for loans and loan guarantees.
https://thehill.com/policy/international/5578267-trump-south-korea-tariff-trade-deal/