SEOUL, April 04 (AJP) - South Korea is finalizing a major investment plan for the United States, a senior Trump administration official said, as Washington rolls out a new wave of tariffs on metals and pharmaceuticals.
During a telephone briefing on Thursday, the senior U.S. official stated that Seoul is expected to unveil a significant investment project in the U.S. within the coming weeks.
The official's remarks came after highlighting recent investment commitments from Japan, which include natural gas facilities in Ohio, artificial diamond production, and small modular reactors (SMRs) in Tennessee and Alabama.
Seoul and Washington are currently in the final stages of coordinating the details of the investment. While the U.S. has reportedly requested investments in a liquefied natural gas (LNG) export terminal in Louisiana, the South Korean government is leaning toward sectors such as artificial intelligence (AI) data centers and nuclear power plant construction, citing stronger business viability and existing expertise.
The upcoming investment announcement coincides with President Donald Trump signing an executive order that revises the imposition of tariffs under Section 232 of the Trade Expansion Act.
Under the new rules taking effect on April 6, a blanket 25 percent tariff will be applied to derivative products containing more than 15 percent of steel, aluminum, or copper. The administration maintains a 50 percent tariff on the raw materials themselves. The official explained that this streamlined process will make it easier for companies to handle administrative work, noting that the previous system failed to generate the expected tariff revenue.
Additionally, the executive order introduces a new 100 percent tariff on pharmaceutical products. However, South Korea, Japan, the European Union, and Switzerland will be subject to a reduced rate of 15 percent, while the U.K. will face a 10 percent rate.
The U.S. official noted that these allied nations are granted lower rates because they have broader trade agreements with Washington, allowing them to maintain their domestic production facilities.
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