The U.S. and South Korea announce an economic security protocol: involving massive investments, tariff reductions, and defense expansion.

BlockBeats news, on November 14, the United States and South Korea announced a comprehensive economic and security agreement outlining South Korea's 100s of billions investment plan, as well as significant tariff concessions and expanded defense cooperation from the United States. According to White House reports, Washington has approved South Korea's investment of 150 billion USD in the U.S. shipbuilding industry. Additionally, under a new memorandum of understanding, South Korea has committed to a total of 200 billion USD in “strategic investments.” In a major military shift, the U.S. has authorized South Korea to build nuclear-powered attack submarines, while South Korea has committed to purchase 25 billion USD worth of U.S. military equipment by 2030 and has announced a plan to raise defense spending to 3.5% of GDP “as soon as possible.” South Korea has also pledged to provide comprehensive support totaling 33 billion USD for U.S. troops stationed in South Korea within its domestic legal framework. In trade, the U.S. will reduce the tariffs under Section 232 on South Korean cars, auto parts, and wood and wood products to 15%, and plans to impose a Section 232 tariff of no more than 15% on pharmaceuticals originating from South Korea. Meanwhile, South Korea has committed to lift the import quantity restrictions on 50,000 unmodified U.S. cars and agreed to cooperate with the U.S. to address non-tariff barriers affecting food and agricultural trade. (Jin10)