File photo: US President Donald Trump gestures during a joint press conference in South Korea.
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U.S. President Donald Trump on Wednesday announced that Washington had reached a “Full and Complete” trade deal with Seoul, setting blanket tariffs on the country’s exports to U.S. at 15%.
Trump also said in a post on social media platform Truth Social that South Korea will “will give to the United States $350 Billion Dollars for Investments owned and controlled by the United States, and selected by myself, as President.”
South Korea’s President Lee Jae-myung said in a Facebook post that his country had concluded the tariff negotiations with the United States after “gathering diverse opinions and refining our strategies,” according to a Google translation of his statement in Korean.
Lee said the $350 billion fund “will play a role in facilitating the active entry of Korean companies into the US market in industries where we have strengths, such as shipbuilding, semiconductors, secondary batteries, biotechnology, and energy.”
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