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President Donald Trump announced Wednesday that the U.S. and South Korea had come to an agreement on a new trade deal after weeks of arduous negotiations.
South Korea is the latest nation to negotiate a new deal just days ahead of the president’s August 1 tariff deadline, when all trading partners who have yet to negotiate new deals with the U.S. will be hit with hefty tariff rates based on existing trade deficits.
“The Deal is that South Korea will give to the United States $350 Billion Dollars for Investments owned and controlled by the United States, and selected by myself, as President,” Trump announced in a Truth Social post. “Additionally, South Korea will purchase $100 Billion Dollars of LNG, or other Energy products and, further, South Korea has agreed to invest a large sum of money for their Investment purposes. 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…
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