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The multi-year initiative supposedly includes financing for building as many as eight nuclear power plants and one gas-powered plant. These facilities are anticipated to provide power to data centers in the U.S.
The investments arise from accords made between Washington and Seoul during trade talks held last October. During that period, the U.S. consented to reduce tariffs on nearly all South Korean imports—such as cars—from 25% to 15%, in return for a pledge from its trading partner to invest around $350 billion in the U.S. economy.
Since that time, Seoul has made no tangible moves, causing displeasure in Washington. U.S. President Donald Trump has warned that he may reinstate the tariffs to their former levels.
According to WSJ sources, both parties are nearing completion on two investment agreements that might be revealed as soon as next week.
source: wsj.com
The investments arise from accords made between Washington and Seoul during trade talks held last October. During that period, the U.S. consented to reduce tariffs on nearly all South Korean imports—such as cars—from 25% to 15%, in return for a pledge from its trading partner to invest around $350 billion in the U.S. economy.
Since that time, Seoul has made no tangible moves, causing displeasure in Washington. U.S. President Donald Trump has warned that he may reinstate the tariffs to their former levels.
According to WSJ sources, both parties are nearing completion on two investment agreements that might be revealed as soon as next week.
source: wsj.com
