The U.S. administration of Donald Trump put forward claims that differ from the Korean government's explanation regarding the U.S.-Korea trade agreement, raising the possibility that the two countries will continue fine-tuning details.
Howard Lutnick, U.S. Commerce Minister, said in a post on X (formerly Twitter) on the 29th (local time) that "Korea agreed to open its domestic market 100% fully." This is the content of the trade agreement the U.S. side revealed after the meeting between President Trump and President Lee Jae-myung.
The Minister's remarks contrasted with the Korean government's position, which said it had blocked additional openings of certain agricultural markets such as rice and beef. Locally, some analysis suggested the U.S. may be exaggerating and promoting its achievements for domestic political purposes.
He also noted, "Semiconductor tariffs are not part of this trade agreement." The U.S. government is currently pushing to introduce tariffs on semiconductors, with an official announcement expected soon. By contrast, the Korean government has said it "agreed to have tariffs applied at a level not disadvantageous compared with competitors such as Taiwan," highlighting a divergence in the two sides' explanations.
If the Minister's remarks are accurate, semiconductor tariffs still have room for adjustment, and the U.S. may bring out additional pressure cards during future negotiations. Accordingly, until the official signing of the agreement text, there are expectations that the two countries will continue a tug-of-war over how tariffs are applied by item.
The Minister also laid out Korea's plan to use $350 billion (about 500 trillion won) in investments in the United States in detail. He said, "President Trump will personally approve the investment sectors," adding, "Shipbuilding has been designated for the first investment, and at least $150 billion will be injected into shipbuilding in the United States."
He also said, "President Trump will direct an additional $200 billion investment in projects including the Alaska natural gas pipeline, energy infrastructure, critical minerals, advanced manufacturing, artificial intelligence (AI), and quantum computers."
The shipbuilding investment mentioned by the Minister also aligns with President Trump's remarks the previous day that he approved having a Korean company build nuclear-powered submarines at the "Philadelphia Naval Shipyard (Philly Shipyard)." Philly Shipyard, a U.S. base acquired by Hanwha Ocean, is drawing attention as a symbolic site of this U.S.-Korea trade and security cooperation.