U.S. President Donald Trump reaffirmed that he expects to receive South Korea’s pledged 350 billion U.S. dollar investment "up front."
After signing an executive order related to the Chinese social media and video platform TikTok at the White House on Thursday, Trump told reporters that the United States had "not been treated fairly" by other nations in the past but is now doing better than ever.
Trump reminded reporters that the U.S. is set to receive 550 billion dollars from Japan and 350 billion dollars from South Korea under trade agreements reached in July.
Seoul agreed to provide the 350 billion dollar investment package as part of its initial deal with Washington in exchange for a reduction in U.S. tariffs on South Korean imports. But the two sides have yet to agree on how the investment package should be structured and implemented.
Amid the ongoing disagreement, Seoul is requesting a currency swap agreement with Washington, arguing that tailoring the investment package to current U.S. demands would expose South Korea to significant foreign exchange risk.