BBC: <\/p>\n\n\n\n
The US and South Korea have reached a broad trade deal, both countries have said following talks between their leaders.<\/p>\n\n\n\n
South Korea’s presidential aide, Kim Yong-beom, said the two sides will keep reciprocal tariffs at 15%, as was agreed earlier this year, but that the taxes on car and car parts would be lowered.<\/p>\n\n\n\n
South Korea will also invest $350bn in the US, including $200bn in cash investment and $150bn in shipbuilding, Kim said.<\/p>\n\n\n\n
US President Donald Trump, who is currently on a week-long trip in Asia, said the deal was “pretty much finalised” at a dinner following the discussions, which lasted almost two hours. He did not give further details.<\/p>\n\n\n\n
“We had a tremendous meeting today with South Korea”, Trump said, adding that “a lot was determined”.<\/p>\n\n\n\n
“We discussed some other things to do with national security et cetera. And I think we came to a conclusion on a lot of very important items.”<\/p>\n\n\n\n
Both sides had played down the prospect of a breakthrough ahead of Wednesday’s talks – disappointing many in South Korea’s electronics, chip and auto industries, which had been hoping for some clarity amidst the tariff chaos.<\/p>\n\n\n\n
Trump had slapped a tariff rate on Seoul of 25% earlier this year – which South Korean President Lee Jae Myung managed to negotiate down to 15%, after Seoul said it would invest $350bn in the US and buy $100bn worth of liquified natural gas.<\/p>\n\n\n\n
But the White House later increase its demands as part of the trade talks, with Trump pushing for cash investments in the US.<\/p>\n\n\n\n
Both countries have historically been key allies – but tensions spiked after hundreds of South Koreans were detained in an immigration raid in the US last month.<\/p>\n","protected":false},"excerpt":{"rendered":"
BBC: The US and South Korea have reached a broad trade deal, both countries have said following talks between their leaders. South Korea’s presidential aide, Kim Yong-beom, said the two sides will keep reciprocal tariffs at 15%, as was agreed earlier this year, but that the taxes on car and car parts would be lowered. South Korea will also invest $350bn in the US, including $200bn in cash investment and $150bn in shipbuilding, Kim said. US President Donald Trump, who is currently on a week-long trip in Asia, said the deal was “pretty much finalised” at a dinner following the… <\/p>\n","protected":false},"author":1,"featured_media":51456,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-51455","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-in-english"],"_links":{"self":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/51455","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=51455"}],"version-history":[{"count":1,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/51455\/revisions"}],"predecessor-version":[{"id":51457,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/51455\/revisions\/51457"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/media\/51456"}],"wp:attachment":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}