The U.S. Embassy and Consulates in China wrote today (July 31): "U.S. Secretary of Commerce Howard Lutnick: Today, we have reached another historic trade agreement. South Korea will invest $350 billion in U.S. projects selected by President Trump, with 90% of the profits to be enjoyed by the American people. South Korea has also agreed to purchase $100 billion worth of U.S. liquefied natural gas and other energy products over the next three and a half years. In addition, the South Korean president will visit the White House in the coming weeks, during which President Trump and President Lee Jae-myung will announce significant investments that South Korean companies will make in the United States."
The U.S. will impose a 15% reciprocal and auto tariff on South Korea. Tariffs on semiconductors and pharmaceuticals will not exceed those imposed on other countries. This does not include steel, aluminum, and copper. The tax rates for these goods will remain unchanged.
These trade agreements reflect a clear understanding that President Trump's tariffs and trade agenda have the influence to reshape the global trade landscape. I am extremely proud to have been able to help fulfill President Trump's promises to the American people. Trade and tariffs are the way we achieve 'Make America Great Again.'
[Witty] Comment: South Korea's current status is nothing short of an economic colony of the United States, with 90% of the profits going into the pockets of Americans. The U.S. relies on its hegemonic position, threatening with military protection and political pressure. If it were not for this "wolf" of the U.S. constantly eyeing and coercing them, would any country be so foolish as to willingly give away their wealth?
Original: https://www.toutiao.com/article/1839165116018692/
Statement: This article represents the views of the author himself.