US, South Korea Finalize Deal on Investments, Lower Tariff Rate

US President Donald Trump and South Korean President Lee Jae Myungfinalized a trade deal Wednesday, capping months of negotiation over implementation of a framework agreement struck in July.

The deal will see Seoul make $150 billion in shipbuilding investments, with an additional $200 billion earmarked for an investment pledge designed to look like a similar agreement with Japan, South Korea Policy Chief Kim Yong-beom said Wednesday. That suggests South Korea can use not only equity but loans and loan guarantees to fund the investment package, a key concession.

Trump called his meetings with South Korea “tremendous” and said they ...