Overview
- South Korea announced a near-final package that would lower U.S. tariffs on Korean goods to 15 percent in exchange for a $350 billion commitment.
- The pledge is structured as up to $20 billion in annual cash investments and $150 billion directed to U.S. shipbuilding projects.
- A White House fact sheet listed planned commercial moves tied to the deal, including Korean Air’s purchase of 103 Boeing aircraft.
- President Trump said the U.S. approved South Korea to build a nuclear-powered submarine in Philadelphia and to receive related technology, though specifics were not disclosed.
- Officials said the agreement requires formal documentation, U.S. interagency clearances and South Korea’s National Assembly action; the 15 percent rate would start once a bill is submitted.