Summary
The United States and South Korea have been engaged in trade discussions, aiming to finalize a deal involving $350 billion in investment into the U.S. economy. During these talks, South Korea presented gifts to President Donald Trump, including a gold medal and crown, to improve relations. Despite progress, no formal agreement has been signed yet.
Key Facts
- The U.S. and South Korea are working on a trade deal involving $350 billion investment.
- South Korea’s President Lee Jae Myung gave gifts to President Trump during talks.
- The discussions include reducing U.S. tariffs on South Korean auto exports.
- Both countries have tentatively agreed to keep certain tariffs at 15 percent.
- South Korean exports like Hyundai and Kia previously faced higher U.S. tariffs.
- Talks took place during Trump’s Asia trip and the Asia-Pacific Economic Cooperation summit.
- U.S. officials have not confirmed exact details of the agreement.
- South Korea is cautious about direct cash investments, preferring loans and guarantees.
