On July 30 (local time), President Donald Trump announced that the United States and South Korea have reached a $450 billion comprehensive trade agreement, calling it one of the largest bilateral economic deals in recent history.
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| President Donald Trump announced the United States and South Korea trade agreement |
In his statement on Truth Social, Trump confirmed that South Korea will invest $350 billion into U.S.-owned and U.S.-controlled projects and an additional $100 billion will be used to purchase liquefied natural gas (LNG) and other U.S. energy products.
“This agreement will fully open South Korea to trade with the United States and ensure Korea’s acceptance of U.S.-made products, including cars, trucks, and agricultural goods,” Trump said, congratulating newly elected President Lee Jae-myung.
🔹 Key Details of the Agreement
- $350B investment fund: Directed into U.S.-controlled projects in shipbuilding, strategic industries, and infrastructure
- $100B for U.S. energy products: LNG and other energy imports
- Duty-free access: American automobiles, trucks, and agricultural products will now enter South Korea without tariffs
- Tariffs on Korean exports: Adjusted to 15%, while U.S. products will be tariff-free in the Korean market
- South Korea has fully opened its auto, truck, and agricultural markets to American products
The agreement also focused heavily on semiconductors, steel, and aluminum, with negotiators racing to finalize terms before the August 1 deadline for reciprocal tariffs.
Key South Korean negotiators included Finance Minister Koo Yoon-cheol, Trade Minister Kim Jung-kwan, and Trade Negotiations Director Yeo Han-goo, who met with U.S. Commerce Secretary Howard Lutnick and USTR Chief Jamieson Greer at the Department of Commerce.
The South Korean delegation arrived at the White House at 4:30 p.m. (local time) to meet President Trump and departed at 6:10 p.m. after finalizing the terms.
Trump confirmed that an additional round of investment announcements would be made during President Lee’s upcoming White House visit in the next two weeks.
Learn Korean Through This News
Korean Text:
“미국이 한국에 대한 상호관세를 기존 25%에서 15%로 낮추기로 했다고 도널드 트럼프 미국 대통령이 30일(현지시간) 밝혔다. 우리나라가 3,500억 달러를 투자하는 등의 조건이다.”
Key Vocabulary:
- 상호관세 – reciprocal tariff
- 기존 – existing, previous
- 낮추다 – to lower
- 도널드 트럼프 미국 대통령 – U.S. President Donald Trump
- 현지시간 – local time
- 밝히다 – to announce, to state
- 우리나라 – our country (South Korea)
- 투자하다 – to invest
Translation:
U.S. President Donald Trump announced on the 30th (local time) that the United States had decided to lower reciprocal tariffs on South Korea from the existing 25% to 15%. One of the conditions is that South Korea invests 350 billion dollars.
SEO Keywords
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