Trump Says "South Korea Raised Issues with Trade Deal, But Original Agreement Stands" (Comprehensive)

Trump Stands Firm After Meeting With Lee Jae Myung
Differences Remain Between the Two Governments
Over U.S. Investment Methods and Agricultural Market Opening
Following July Trade Agreement

President Lee Jae-myung and U.S. President Donald Trump are holding a summit at the White House in Washington DC, USA, on the 25th (local time). Photo by Yonhap News

While South Korea and the United States have shown some differences over the results of their July tariff negotiations, U.S. President Donald Trump announced on the 25th (local time) that he would implement the trade agreement reached in principle as it stands. This is interpreted as a refusal to accept the South Korean government's objections.

After his summit with President Lee Jaemyung at the White House that day, President Trump responded to a question at the proclamation signing ceremony about whether the trade negotiations with South Korea had been concluded by saying, "Yes. I believe we have finished the negotiations." He added, "They (South Korea) had some issues with the agreement, but we stuck to our position," and continued, "They will carry out the agreement they agreed to settle."

Previously, on July 30, South Korea agreed with the United States to lower the mutual tariff rate imposed by the U.S. on South Korea from 25% to 15%, in exchange for $350 billion (approximately 487 trillion won) in investments in the U.S. and the purchase of $100 billion (approximately 139 trillion won) worth of U.S. energy. Some have evaluated that the South Korean government performed well, as the rate was reduced to 15%, which was considered the U.S.'s "red line."

However, even after the agreement in principle, the two governments offered different interpretations on certain issues. U.S. Secretary of Commerce Howard Lutnick explained regarding the investment method that "South Korea will provide $350 billion in investments in the U.S. as designated by President Trump, and 90% of the profits from this will go to Americans." In contrast, Deputy Prime Minister and Minister of Economy and Finance Koo Yooncheol explained that $150 billion (approximately 208 trillion won) would be allocated to shipbuilding projects, while the remaining $200 billion (approximately 278 trillion won) would be invested in economic security sectors such as semiconductors, nuclear power, energy, secondary batteries, and biotechnology.

There were also disagreements regarding specific issues such as the opening of the agricultural and livestock markets, including rice and beef. Immediately after the conclusion of the negotiations, President Trump stated, "South Korea will be fully open to trade with the United States and has agreed to accept U.S. products, including automobiles, trucks, and agricultural goods." However, Kim Yongbeom, Chief Policy Officer at the Presidential Office, said in a briefing, "It was agreed that the domestic rice and beef markets would not be further opened." He also explained, "What matters is the dialogue among the ministers responsible for the negotiations, and there were no discussions or agreements regarding agricultural and livestock products."

President Trump also emphasized regarding President Lee, "He (President Lee) is a very good guy and a very good representative of South Korea. This is a very large trade agreement. It is the largest agreement South Korea has ever concluded."

This content was produced with the assistance of AI translation services.