US-Korea Reach Trade Deal; Powell Signals Reluctance to Cut Rates; Washington to get $350 billion investments
A Complete Trade Deal Between US-Korea
On Wednesday, US President Trump announced a trade agreement with Korea, about a 15% tariff on imports from Seoul, “Complete trade deal” with the US & Korea Nations. Trump declared that the United Nations won’t be subjected to any tariffs.
Asian nation committed to providing $350 billion to America for investment, which will be controlled and owned. personally managed by Trump
South Korea has agreed to purchase $100 billion worth of LNG or more energy products, and has committed to investing a large amount in new Trades
Donald Trump Stated, “I am pleased to announce that the United States of America has agreed to a Complete Trade Deal with the Republic of Korea. The Deal is that South Korea will give to the United States $350 billion for Investments owned and controlled by the United States, and selected by me, as President.”
This sum will be announced within the next two weeks when the President of South Korea, Lee Jae Myung, comes to the White House for a Bilateral Meeting.”
Trump congratulated Korea’s new President for his Electoral achievement.
The deal will be open for Korea, completely to American goods, “they will receive American products, including Cars and Trucks, Agriculture, etc.”
Tariffs will apply to South Korean Exports, which would be 15% while United States goods will face no such charges
President Lee Jae Myung’s first bilateral meeting with Trump at the White House since taking office in June
Lee Jae Myung reacted in a Facebook post, quoting, “the first major trade challenge” of his administration, saying, “We have overcome a major hurdle.”
Lee Said, US tariffs on our exports are either lower than or equal to those imposed on our major trade competitors,” Lee said.
This agreement is such a big win for South Korea’s President Lee, who is leading Asia’s fourth-largest economy at a time when its export-heavy industries are under global pressure.
This agreement represents the convergence of US interests in revitalizing its manufacturing sector.
Trump concluded his post by thanking South Korean officials, saying, “I would like to thank the Trade Representatives who came forward today. It was an Honor to meet them, and talk about the Great Success of their Country!”
Trump has pursued aggressive trade measures, with particularly steep increases on select nations, 25% on imports from India and 50% on those from Brazil. rolling out a blanket 10% tariff on both allies and competitors. Those rates are set to climb from August 1. Since his return to the White House in January,
The Brazilian president and his far-right ally, currently facing a criminal trial. Trump indicated the Brazil tariffs were in part retaliation for what he labelled a “witch hunt” against Jair Bolsonaro,
Source : Wsj.com
Mike Neon is a seasoned journalist specializing in United States news, known for his comprehensive coverage of national affairs and current events. With a career spanning 5 years in journalism, Mike has established himself as a reliable source of accurate and insightful reporting. His articles delve deep into political developments, social issues, and cultural trends shaping the United States today. Mike Neon’s dedication to providing balanced perspectives and in-depth analysis ensures that readers stay informed about the latest developments that impact the nation.
