US-South Korea Trade Deal: $350B Investment

On November 14th, the U.S. and South Korea announced a major trade deal, with a $150 billion Korean investment in American shipbuilding and $200 billion for other U.S. industries, totaling $350 billion. This follows a meeting in October where import duties on South Korean products were reduced. The agreement also includes South Korea building nuclear-powered submarines and forming new partnerships in shipbuilding, AI, and the nuclear industry. The U.S. approved South Koreas submarine plan and will work on fuel sourcing. The investment will be delivered in installments to stabilize the Korean won. This deal strengthens economic and security ties between the two nations.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.