The White House announced that an agreement had been reached in trade negotiations with Korea, stating that Korea would open its rice market. This is expected to cause controversy as it contradicts the details of the Korea-U.S. tariff negotiations previously disclosed by the Korean presidential office.
Karoline Leavitt, a White House Spokesperson, stated during a White House briefing that began around 1:24 p.m. on the 31st (U.S. Eastern Time, 3:24 a.m. on the 1st, Korean time), "The delegation from Korea met with President Trump at the White House yesterday to conclude the negotiations," noting, "Korea will pay a 15% tariff and providing historic market access to American goods like autos and rice."
This White House announcement aligns with the content posted by President Donald Trump on Truth Social, following the announcement of the Korea-U.S. tariff negotiation results. On the 30th at 6:16 p.m. (U.S. Eastern local time, 7:16 a.m. on the 31st Korean time), Trump stated, "Korea will completely open its trade by accepting American products, including cars, trucks, and agricultural products."
In contrast, the Korean presidential office stated on the 31st that there will be no further opening of the domestic rice and beef markets. Kim Yong-bum, the presidential office's Chief Policy Officer, held an urgent briefing that day and conveyed detailed agreements on the Korea-U.S. tariff negotiations, announcing, "While it is true that there was a strong demand for opening from the U.S. side regarding agricultural products, considering food security and agricultural sensitivity, it was agreed not to further open the domestic rice and beef markets."
The government's stance remained unchanged on the 1st. Song Mi-ryeong, the Minister of Agriculture, Food and Rural Affairs, stated at the Legislation and Judiciary Committee meeting that day, "There will be no further opening regarding rice and beef." Minister Song, in relation to the U.S. remarks, noted, "The expression 'perfect trade' in President Trump's SNS disclosure is viewed as political rhetoric," adding, "Regarding rice, American rice is already imported at a low tariff rate of 132,000 tons per year. The market is already open."
Question: US and South Korea negotiations, the negotiation between South Korea and the United States, concluded yesterday. President Trump stated on his SNS Truth Social that he would announce the specific details of the investment in the United States at the South Korea-United States summit in two weeks. My question is, is this part of negotiation of final agreement, or is further negotiation necessary?
Answer: Well, yes, as you know, the President met with the representatives of the Republic of South Korea here at the White House yesterday, and they did in fact reach a deal, and South Korea will pay a 15% tariff rate, including 15% on autos, while providing historic market access to American goods like autos and rice. Korea will purchase $ 100 billion in American energy by 2028, and the centerpiece of this deal is that South Korea has agreed to invest $350 billion at the President's direction to revitalize American industry. 90% of those profits will go to the United States government to help pay down our debt and for other matters at the President's choosing, so it was a very successful meeting yesterday.