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Investing.com -- President Donald Trump engaged in a conversation with the Acting President of South Korea on Tuesday. The discussion centered around various economic and trade-related topics, including South Korea's surplus, tariffs, shipbuilding, and the large-scale purchase of U.S. liquefied natural gas (LNG). The two leaders also touched on South Korea's joint venture in an Alaska Pipeline and the payments made by South Korea for military protection provided by the United States.
Trump noted that these military payments, amounting to billions of dollars, were initiated during his first term. However, according to Trump, the former President, Joe Biden, terminated the deal for reasons unspecified. Despite this, Trump expressed optimism about the potential for a beneficial deal between the two nations. He informed that South Korea's top team is en route to the U.S., indicating positive progress in the discussions.
In addition to South Korea, Trump stated that the U.S. is negotiating with many other countries, all of whom are interested in reaching a deal with the United States. The discussions are not limited to trade and tariffs but also extend to other subjects, a process Trump referred to as "one stop shopping."
Trump also mentioned China, stating that the country is eager to strike a deal but is uncertain about initiating the process. He expressed confidence that China will eventually make contact to start negotiations.
Earlier, on April 2, Trump had introduced a blanket tariff on imports to the United States. This included higher tariffs against what he termed as "worst offenders," with a 25% duty imposed on imports from South Korea.
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