Donald Trump announced on Wednesday, October 29, that a trade agreement had been reached with South Korean President Lee Jae Myung, following a meeting between the two leaders in the South Korean city of Gyeongju. “We did it,” the US president responded when asked by journalists about the conclusion of an agreement, without further details at the moment.
After a two day tour to japan and before a summit meeting with Xi Jinping On Thursday, the American president landed in South Korea this Wednesday, October 29. In July, Donald Trump announced that he had accepted reduce customs taxes on South Korean products to 15% in exchange for Seoul’s commitment to invest $350 billion in the United States.
Summit meeting with Xi Jinping
But surcharges on cars persisted and the terms of these investments remain hotly debated. Shortly before this meeting, Seoul announced that Amazon would invest five billion dollars in South Korea until 2036 in infrastructure linked to artificial intelligence.
On Thursday, Donald Trump will meet his Chinese counterpart Xi Jinping in South Korea for the first time since 2019. The world’s two largest economies, embroiled in a fierce trade standoff since Trump’s return to the White House, could reach a deal.
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Source: BFM TV
