We show you our most important and recent visitors news details South Korea reassures US on investment pledge after Trump threatens tariffs hike in the following article
Hind Al Soulia - Riyadh - SEOUL — South Korea on Tuesday assured the US it remained committed to implementing a trade deal after President Donald Trump said he would hike tariffs on autos and other imports from its ally, blaming a delay in enacting the pact agreed last year.
Trump said on Monday South Korean lawmakers have been slow to approve the deal he reached with President Lee Jae Myung to make huge investments in US business projects while "we have acted swiftly to reduce our tariffs in line with the transaction agreed to".
For South Korea, the decision, which officials in Seoul said caught them by surprise, is the latest setback as it tries to navigate the alliance and trade partnership amid potential challenges to its security and financial stability posed by Trump's demands.
South Korea says it had not been given official notice of the decision to raise tariffs on some of its goods, and wanted urgent talks with Washington over the issue.
It added that South Korea's Industry Minister Kim Jung-kwan, who is currently in Canada, will visit Washington as soon as possible to meet US Commerce Secretary Howard Lutnick.
South Korea's benchmark Kospi stock index fell on Tuesday morning but was trading about 1.8% higher later in the day as shares in major exporters recovered.
Trump and Lee struck a deal in principle last July for Seoul to make $350 billion of investments in the US, despite concerns over the impact of such a large outflow from Asia's fourth-largest economy.
Related Article
Fifty Labour MPs oppose Starmer's decision to bar Burnham from by-election
The agreement was submitted to South Korea's National Assembly on 26 November and is currently being reviewed. It is likely to be passed in February, according to local media.
Trump has frequently used tariffs as leverage to enact foreign policy during his second term in the White House.
On Saturday, he threatened Canada with a 100% tariff if it struck a trade deal with China.
On Monday, Chinese officials said its "strategic partnership" agreement with Canada is not meant to undercut other countries.
Canadian Prime Minister Mark Carney has said his country was not pursuing a free trade deal with China and has "never" considered it.
He added that Canadian officials have made their position clear to their American counterparts.
Before that, Trump said he would impose import taxes on eight countries, including the UK, which opposed US plans to seize Greenland, an autonomous territory in the Kingdom of Denmark which is a member of Nato.
He later backed down from the tariff threat over Greenland citing progress towards a "future deal" over the island, but the episode strained US relations with Denmark and other Nato allies. — Agencies
These were the details of the news South Korea reassures US on investment pledge after Trump threatens tariffs hike for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
It is also worth noting that the original news has been published and is available at Saudi Gazette and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.
