South Korean President Lee will travel to Washington for Aug. 25 meeting with Trump

[ad_1]

SEOUL, South Korea (AP) — South Korea’s new President Lee Jae Myung will travel to Washington later this month to meet with U.S. President Donald Trump, Lee’s office said Tuesday, for talks on trade and defense cooperation in the face of nuclear-armed North Korea and other threats.

Their Aug. 25 summit will follow a July trade deal in which Washington agreed to cut its reciprocal tariff on South Korea to 15% from the initially proposed 25% and to apply the same reduced rate to South Korean cars, the country’s top export to the United States.

South Korea also agreed to purchase $100 billion in U.S. energy and invest $350 billion in the country, and the leaders could use their meeting to discuss expanding cooperation in key industries such as semiconductors, batteries and shipbuilding, Lee’s spokesperson Kang Yu-jung said.

The meeting also comes amid concerns in Seoul that the Trump administration could shake up the decades-old alliance by demanding higher payments for the U.S. troop presence in South Korea and possibly move to reduce it as Washington shifts more focus on China.

Lee and Trump will discuss strengthening the allies’ defense posture against growing North Korean threats, and also developing the partnership into a “future-oriented, comprehensive strategic alliance” to address the changing international security and economic environment, according to Kang, who didn’t elaborate on the specific issues to be addressed.

Dating back to his first term, Trump has regularly called for South Korea to pay more for the 28,500 American troops stationed on its soil. Recent comments by key Trump administration officials, including Undersecretary of Defense Elbridge Colby, have also suggested a desire to restructure the alliance, which some experts say could potentially affect the size and role of U.S. forces in South Korea.

Under this approach, South Korea would take a greater role in countering North Korean threats while U.S. forces focus more on China, possibly leaving Seoul to face reduced benefits but increased costs and risks, experts say.

Before you make your next trade, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.

Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and none of the big name stocks were on the list.

They believe these five stocks are the five best companies for investors to buy now…

See The Five Stocks Here

Metaverse Stocks And Why You Can't Ignore Them Cover

Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.

Get This Free Report

Like this article? Share it with a colleague.

Link copied to clipboard.



[ad_2]

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *