Trump visits South Korea as $350 billion trade deal with Seoul appears
commitments, a trade deal between the US and South Korea appears more elusive as Trump seeks $350 billion in investment in the US.
Top officials in Washington and Seoul say the sticking point for an agreement continues to be the logistics behind Trump’s demand that South Korea invest $350 billion in the United States.the flow of its currency into the US.Trump said the two countries are “wedded,” praising their “very special relationship” during remarks at a business forum. He also said they’re “very close” to a deal.
Speaking broadly about international trade, Trump suggested a more conciliatory approach than his usual confrontational stance. “The best deals are deals that work for everybody,” he said.cooperation,’ ‘coexistence,’ and ‘inclusive growth’ may sound hollow,” he said.The medal represents the Grand Order of Mugunghwa, the country’s highest honor. Trump is the first US president to receive it. He said, “It’s as beautiful as it can possibly be” and “I’d like to wear it right now.”
He also received a replica of a royal crown from the Silla Kingdom, which existed from 57 B.C. to 935 A.D. The original crown was found in a tomb in Gyeongju, the kingdom’s capital. Trump said it was “very special.”He expressed interest in obtaining nuclear-powered submarines, saying, “We can help your activities around this region.”
Meanwhile, Lee asked Trump to allow South Korea to receive fuel needed to develop nuclear-powered submarines.
During their bilateral meeting on Wednesday, Lee said South Korea doesn’t intend to build nuclear-armed submarines but needs conventionally armed, nuclear-powered ones that are capable of operating quietly underwater for extended periods.South Korea’s Hanwha Group bought the Philly Shipyard last year.
The president’s first stop at the annual APEC Summit was a business forum, where he boasted of an “economic revolution” in America.
As usual, Trump criticized Federal Reserve Chairman Jerome Powell for the current state of interest rates. “He’s out of there in another couple of months,” Trump said. Powell’s term as chair ends in May.
He said that the country’s diesel submarines are constrained in their ability to track North Korean or Chinese submarines.
After the honor ceremony, Trump and Lee sat down for a meeting with their advisers.
“Yet, paradoxically, it is in times of crisis like this that APEC’s role as a platform for solidarity shines brighter.”
Lee, speaking at the forum before Trump arrived, warned against trade barriers. “At a time when protectionism and nationalism are on the rise and nations focus on their immediate survival, words
The disparity between what Trump is asking for and what South Korea can deliver threatens to overshadow the meeting between Trump and South Korean President Lee Jae Myung in Gyeongju, a historical
Korean officials say putting up cash could destabilize their own economy, and they’d rather offer loans and loan guarantees instead. The country would also need a swap line to manage the flow of its currency into the