On Wednesday, the U.S. President held a meeting with South Korean President Lee Jae Myung in Gyeongju, concluding his Asia tour focused on securing fresh investment agreements.
Before their meeting at the Asia-Pacific Economic Cooperation (APEC) CEO Summit, Trump stated, “The Republic of Korea is a valued American friend and a close ally. And as is evident in this beautiful city, it’s genuinely one of the most extraordinary nations globally,” further noting that South Korea’s president “is a wonderful individual.”
During the bilateral discussions, President Lee requested that Trump contemplate granting South Korea access to fuel for conventionally armed, nuclear-powered submarines, a restriction that has long been in place under a U.S. nonproliferation agreement.
Earlier in his journey, Trump had made stops in Malaysia and Japan.
Following his prior stops, which generated approximately $490 billion in investment commitments, Trump remarked that a trade deal with South Korea had been more arduous as he pursued an additional $350 billion in U.S. investments. Trump forecasted that cumulative new investment could exceed $22 trillion by the close of his first year returning to the White House.
The president remarked, “I estimate that we’ll probably achieve 20 or 21, potentially even $22 trillion in [investment] by the culmination of the first year of my second term.” He further stated, “And our first term was incredibly successful. We had the most robust economy in our country’s history, the strongest we’ve ever experienced. But this, I think, is far surpassing it. We possess an excellent policy. We have some very positive occurrences unfolding.”
Trump further commented, “Globally, we are finalizing one trade agreement after another to equilibrate our relationships grounded in reciprocity.” He continued, “I have entered into landmark agreements with Malaysia, Cambodia, Japan, and our accord with the Republic of Korea is set to be concluded imminently. These arrangements will represent tremendous triumphs for everyone involved, as all parties benefit when we maintain stable collaborations free from persistent issues and disparities.”
Addressing business executives at the gathering, Trump characterized an “economic revolution” as being in progress within the United States. The president exhorted the executives to disregard “narrow-minded individuals lacking foresight,” promising to “construct, exchange, flourish, and thrive collaboratively.”
Subsequently, Trump was bestowed with South Korea’s Grand Order of Mugunghwa, the country’s paramount distinction, in addition to a replica of an ancient Silla Kingdom royal crown, signifying Seoul’s acknowledgment of his previous diplomatic endeavors.
Trump’s trip occurred amidst fresh tensions on the Korean Peninsula, following North Korea’s announcement of launching sea-to-surface cruise missiles off its western shoreline.
“He has been launching missiles for decades, correct?” Trump remarked concerning North Korean leader Kim Jong Un.
Trump reaffirmed his readiness to convene with the North Korean leader, stating, “We shared a truly strong mutual understanding.”
In a distinct address, South Korea’s leader cautioned against increasing protectionism, advocating for international collaboration on trade—a stance that diverged from Trump’s America First agenda.
Trump additionally offered a preview of his impending meeting with Chinese President Xi Jinping.
“As you are aware, President Xi of China will be arriving here tomorrow, and we are, I hope, going to be forging an agreement,” Trump stated. “I believe we will reach a deal. I anticipate it will be a beneficial agreement for both parties. And that truly signifies an excellent outcome.”
“That is preferable to conflict and encountering various difficulties. And, as you know, there’s no justification for it,” he further commented.