Trump Again Cites South Korean Investment: "South Korea Must Pay a Price to Lower Tariffs"

Speech at Maryland Shipyard
"I Told South Korea to Pay the Price if They Wanted Lower Tariffs"

U.S. President Donald Trump has once again highlighted South Korea's investment in the United States, claiming that he demanded South Korea pay the "price" of tariff reductions.

On the 6th (local time), during a speech at a defense industry shipyard in Sparrows Point, Baltimore, Maryland, President Trump said, "South Korea recently provided us with 150 billion dollars," adding, "All of that money is going into shipbuilding. It's the price for lowering tariffs."

On the 6th (local time), U.S. President Donald Trump is giving a speech at Tradepoint Atlantic in Sparrows Point, Maryland. Sparrows Point, Maryland, USA - Photo by AFP Yonhap News

He continued, "They wanted to see lower tariffs, and I told them there would have to be a price for that."

He also emphasized, "South Korean company Hanwha is investing billions of dollars to revive the historic shipyard in Philadelphia (Philly Shipyard)," stressing that it represents "billions of dollars going into a very large and very old shipyard."

This statement by President Trump is interpreted as referring to the Korea-U.S. shipbuilding cooperation project 'MASGA (Make American Shipbuilding Great Again),' under which South Korea is investing 150 billion dollars out of a total 350 billion dollars pledged in accordance with the Korea-U.S. trade agreement, specifically targeting the shipbuilding sector.

The remarks are seen as a reminder that South Korea must commit to U.S. investments in return for receiving lower tariff rates, which are applied differentially by country.

Regarding the remaining 200 billion dollars in U.S.-bound investments, the two countries have announced that the first project will be the construction of the Encinal gas-fired power plant in Texas. They also stated that further discussions will take place regarding the construction of eight large nuclear power plants and the Alaska liquefied natural gas (LNG) project. However, on the 2nd, President Trump asserted South Korea's commitment to invest in the 50 billion dollar Alaska LNG project as a given, warning, "If an agreement is not reached soon, tell them the bill (for Korea) will double."

President Trump's repeated statements concerning South Korea's investments in the United States are seen as an effort to promote the success of his tariff policies ahead of the midterm elections. Alaska, the site of the LNG project he highlighted, is also one of the key battleground states in the upcoming elections.

This content was produced with the assistance of AI translation services.