Overview

• At their first White House summit, the two leaders praised ties and pledged cooperation on trade and security.
• They reaffirmed a July accord that cut U.S. tariffs on Korean goods to 15% in exchange for about $350 billion in U.S. investments, $100 billion in energy purchases and a $150 billion shipbuilding initiative.
• Key defense issues stayed unresolved, with Washington seeking more cost-sharing and operational flexibility for U.S. forces and Lee saying such demands would be difficult, as Trump also mused about U.S. ownership of a major base.
• Hours before the meeting, Trump questioned events in South Korea as “a Purge or Revolution” and later said he would raise “intel” about raids on churches and a Korean-controlled area of a joint base, a flashpoint that did not derail the talks.
• Lee was joined by top conglomerate chiefs for an economic diplomacy push on semiconductors, autos, batteries and shipbuilding, with the visit featuring a business forum and a planned tour of Philadelphia’s Hanwha-controlled shipyard.