Trump Threatens Tariff Increase over Korea's Delayed LNG Investment
US President Donald Trump has threatened to double charges on South Korea if it delays its investment in the $50 billion Alaska liquefied natural gas project. Speaking at the White House, Trump said he would charge South Korea more if an agreement is not reached soon.
Trump's comments come after Washington agreed to lower tariffs on Korean goods from 25% to 15%. The US President announced that the Korean government would invest in the Alaska LNG project unilaterally on September 30. However, the Korean government pushed back, saying any investment could only begin after a review of its economic feasibility.
State Department spokesperson Tommy Pigott defended the agreement, stating that Korea's investment projects in the US would be a 'genuine win-win' for both countries. Trump has not specified what he would charge South Korea, but it is presumed to refer to a tariff increase.