President Donald Trump announced that South Korea will build a nuclear-powered submarine at Philadelphia shipyards as part of a new trade agreement between the two nations. “South Korea will be building its Nuclear Powered Submarine in the Philadelphia Shipyards, right here in the good ol’ U.S.A.,” Trump said, calling it a sign that “shipbuilding in our country will soon be making a big comeback.”
The deal, which Trump unveiled Wednesday, includes South Korea paying $350 billion to the United States in exchange for reduced tariffs, as well as major commitments to purchase U.S. oil and gas. Trump said South Korean companies plan to invest more than $600 billion in the U.S. economy.
The announcement came during Trump’s Asia trip, which also included a visit to a naval base in Japan where he encouraged American troops to “go and buy a Toyota.” The president’s itinerary will conclude Thursday with a meeting with Chinese President Xi Jinping to discuss potential trade agreements.
The initiative is expected to bolster the U.S. manufacturing and energy sectors while strengthening trade ties across Asia.
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