US-South Korea Deal: Seoul is confronted with a 15% rate, “America will not be charged”; Washington gets $ 350 billion investments – Times of India

US President Donald Trump announced a trade agreement on Wednesday with Zuid -Korea, in which a rate of 15% imposes on the import from Seoul, as part of what he called a “full and complete trade agreement” between the two nations. He further stated that America will not be subject to rates. As part of the deal, the Asian nation will also offer $ 350 billion for investments in the United States, which will be owned, be checked and personally selected by Trump. Moreover, South Korea will also buy $ 100 billion in LNG or other energy products and has also agreed to invest a large amount for investments.The US president on the truth of the truth said: “I am pleased to announce that the United States of America has agreed to a complete and complete trade agreement with the Republic of Korea. The deal is that South Korea will give the United States $ 350 billion dollars for investments owned and controlled by the United States, and is selected by myself as president. “He added: “Moreover, South Korea will buy $ 100 billion dollars from LNG, or other energy products and further South Korea has agreed to invest a large amount for their investment purposes. This amount will be announced within the next two weeks when the President of Zuid -Korea, Lee Jaung, will be announced to the Witte Huis for the Witte Jaung,” “Trump also congratulated the new president of South Korea and said, “I would also like to congratulate the new president on his election success.” He also said that the Zuid -Korea deal would open “completely” to American goods, and explains: “They will accept the American product, including cars and trucks, agriculture, etc.” A rate of 15% will be applied to the South Korean export, while American goods will not get such costs.The announcement comes just before the first bilateral meeting of President Lee Jae Myung with Trump in the White House since he was in the office in June, after the accusation of former leader Yoon Suk Yeol after a failed attempt by the war law.Responding to the deal in a Facebook message, Lee described it as “the first major trade challenge” of his administration and said, “We have conquered a big obstacle.”“Because of this deal, the government has eliminated the uncertainty surrounding export conditions and ensured that the American rates on our exports are lower than or equal to those imposed on our most important trade competitors,” Lee said.The agreement marks an important early victory for Lee, which now leads the fourth largest economy in Asia at a time when the export-heavy industries are under global pressure.Lee added: “This agreement represents the convergence of American interests in revitalizing the production sector and our determination to strengthen the competitiveness of Korean companies on the American market.”Trump concluded his position by thanking the South Korean officials and saying: “I want to thank the trade representatives who came to the fore today. It was an honor to meet them and talk about the great success of their country!”Since his return to the White House in January, Trump has followed aggressive trade measures and rolled out a 10% rate for both allies and competitors. These rates have been set to rise from 1 August, with particularly steep increases on selected countries, 25% on imports from India and 50% on those from Brazil.Trump indicated that the Brazilian rates were partly retaliation for what he called a “witch hunt” against Jair Bolsonaro, the former Brazilian president and his extreme right-wing ally, who was currently confronted with a criminal trial.