Trump announces $200B South Korean investment plan for US projects
U.S. President Donald Trump said the United States and South Korea have agreed to launch $200 billion in new investments in the United States, including major energy projects, Qazinform News Agency reports.
In a post on Truth Social, Trump said the investments would be made under the $350 billion Korea Strategic Trade and Investment Deal he reached with South Korean President Lee Jae Myung last year.
Trump said the plans include a $120 billion nuclear power program to build eight large-scale reactors in the United States – six Westinghouse AP1000 reactors and two Korean APR-1400 reactors.
He also said the United States and South Korea have agreed to commence working together on a $50 billion Alaska LNG project, which he said would unlock Alaska’s resources and create new gas infrastructure.
The third project is a $22 billion, 6.4-gigawatt natural gas-fired power project in Encinal, Texas, according to Trump.
Trump said the projects would add power-generation capacity in the United States, create new construction and manufacturing activity, and generate tens of thousands of American jobs.
Trump said the projects would support the trillions of dollars in investment that have come into the United States under his administration and help strengthen the country’s energy security.
Earlier, Qazinform News Agency reported that the United States and China had agreed on lists of goods for potential reciprocal import tariff reductions under the “30-for-30” framework, with the initiative covering approximately $30 billion in imports on each side.