Donald Trump claims South Korea is paying for lower tariffs via $150 billion investment

During a speech at the Sparrows Point shipyard in Maryland, U.S. President Donald Trump claimed that South Korea has provided $150 billion in investments to the United States as a condition for lowering tariffs. Trump stated, “They want to lower the tariffs imposed on them. I told them, ‘If you want to do that, you have to pay a price.’”

He specifically highlighted that these funds are directed toward the shipbuilding industry, noting that the South Korean company Hanwha is investing billions of dollars to revitalize the historic Philly Shipyard in Philadelphia. This follows the ‘MASGA’ (Make American Shipbuilding Great Again) project, part of a broader $350 billion investment agreement between the two nations.

While $150 billion is designated for shipbuilding, the remaining $200 billion involves other sectors. Current plans include a gas-fired power plant project in Texas and the construction of eight large-scale nuclear reactors. There is ongoing discussion regarding an Alaska liquefied natural gas (LNG) project; while Trump has presented the investment as a certainty, South Korean officials have noted that the project remains under review and has not been finalized.