“The contract provides that South Korea will transfer $ 350 billion to the United States. for investments owned by the United States and controlled by them, and chosen by me as a president. South Korea will also buy LNG or other energy products worth $ 100 billion, and South Korea has agreed to invest a significant amount of money for its investment purposes, “he wrote in the entry on his Truth Social Trump on his portal.
He announced that further details, including the investment amount, is to be announced during the visit of the new president of the country Lee Jae Myung in the White House in two weeks. According to Trump Seul also agreed to open the South Korean market to American cars or agricultural products, and give up customs duties on goods from the USA.
The description of the agreement by Trump shows that it is similar to the one previously concluded with Japan. In that case, the Japanese authorities seemed to interpret arrangements about investments in the USA differently (they are to be $ 550 billion).
According to the South Korea Minister of Finance cited by the Reuters agency, South Koo Yoon-cheola, Seul agreed to invest, among others in the American shipbuilding industry and critical minerals. He also stated that negotiations on regulations constituting a barrier to American food and cars would continue.
New customs rates from the beginning of August
South Korea is one of the last US allies, which has concluded the framework of agreements before the end of July, when, according to Trump's announcement, they have higher duties rates for goods from many other countries. On Wednesday, the White House announced the determination of the conditions of agreements with Pakistan, Thailand and Cambodia, and announced the higher duties for India [25 proc. plus “kara” za kupowanie rosyjskich surowców] and Brazil [50 proc. jako kara za proces przeciwko byłemu prezydentowi Jairowi Bolsonaro].
According to Politico, Already on Thursday, Trump can sign decrees about the imposition of higher duties to many countries with which agreements have not yet been agreedincluding close to the US allies, such as Mexico, Canada or Taiwan. Representatives from these countries still hope to conclude an agreement before the deadline, although according to the sources of the portal, Washington sets hard conditions. The negotiators from the USA squeeze Taiwan like a lemon – said one of the Politico informers.
