Trump Signals Potential Trade Deal with South Korea

President Trump said there could be a potential trade deal in the works with South Korea, saying the country has a team traveling to the United States to make a deal, nearly a week after Trump’s latest tariff announcement.

“I just had a great call with the Acting President of South Korea. We talked about their tremendous and unsustainable Surplus, Tariffs, Shipbuilding, large scale purchase of U.S. LNG, their joint venture in an Alaska Pipeline, and payment for the big time Military Protection we provide to South Korea,” Trump wrote Tuesday on Truth Social.

“They began these Military payments during my first term, Billions of Dollars, but Sleepy Joe Biden, for reasons unknown, terminated the deal.”

“That was a shocker to all! In any event, we have the confines and probability of a great DEAL for both countries. Their top TEAM is on a plane heading to the U.S., and things are looking good,” he added.

Trump announced a 25 percent tariff on South Korea on Wednesday, when he said he would impose a 10 percent baseline import tax on trading partners and higher rates on dozens of countries.

He touted South Korea as another country willing to come to the table on tariffs, after he spoke with Japanese Prime Minister Shigeru Ishiba on Monday and their two teams started talks. Trump then called out China for wanting to make a deal.

“We are likewise dealing with many other countries, all of whom want to make a deal with the United States. Like with South Korea, we are bringing up other subjects that are not covered by Trade and Tariffs, and getting them negotiated also. ‘ONE STOP SHOPPING’ is a beautiful and efficient process!!!” the president wrote online.

“China also wants to make a deal, badly, but they don’t know how to get it started. We are waiting for their call. It will happen!” he said.

The Chinese government on Monday vowed to “fight to the end” and impose more taxes on the U.S. after Trump, in a post on Truth Social, escalated the back-and-forth between the two nations by threatening to add 50 percent to the current 54 percent tariff rate.

The rate was reached after Trump imposed a 34 percent tax, on top of a 20 percent rate, on China last week.

China initially responded by saying it would hit the U.S. with a matching 34 percent reciprocal tax on imports starting this week, arguing the sweeping import taxes undermine the “interests of the United States itself but also endangers global economic development and the stability of the production and supply chain.”