South Korea is requested by Trump in partnership in shipbuilding to conclude a trade agreement

South Korea proposes a partnership with the United States in the shipbuilding sector, as an important proposal to reach a trade agreement at the last minute, with the aim of avoiding a 25%customs duties. Despite the absence of fine details, the Korean “Yonhap” agency reported that Seoul suggested a dollar dollar in the name “let’s raise the construction of US ships again.” The Korean Ministry of Industry refused to comment. “We have confirmed the interest on the strong US side in the shipbuilding sector, and the two parties have agreed to work together to develop mutual and acceptable conditions that include cooperation in this area,” the South Korea presidential office said in a statement on Saturday. Quick Korean movements amid Washington’s involvement with a time when several countries in Asian countries closed commercial transactions last week, negotiators in South Korea reinforced their efforts to stay in contact with their peers in Washington, who focused on the European Union and China. The United States and the European Union announced an agreement on Sunday that the European block will carry 15% of customs on most of its exports to the US market, including cars. The last agreement, which followed a similar agreement with Japan last week, exacerbates the pressure on the fourth largest economy in Asia, South Korea, to accelerate the conclusion of a similar agreement. South Korea, whose negotiations are slowing down due to internal political turmoil, is still one of the largest Asian economies that has not yet reached an agreement. In addition to China, major exporting countries in the region such as India and Taiwan are deeply involved in extensive negotiations with the United States. Defense meetings before the Finance and Foreign Minister in South Korea to meet with their US peers this week in a recent attempt to resolve negotiations, and the Seoul government confirmed the two parties’ commitment to reaching an agreement before the final deadline was set by US President Donald Trump on 1 August. According to the agreement, the two parties announced an investment fund worth $ 550 billion as part of an agreement to reduce customs duties to 15%. The South Korean negotiations also focus on reducing customs duties up to 15%, including the car sector, and recent proposals indicate a structure similar to set in the Japanese agreement. Agriculture, the thorny file intern in Korea, puts the issue of importing agricultural products within the negotiations of the new Korean government before major challenges, as it has already made efforts to open the meat market, large -scale protests and reduction of rice imports can provide more resistance. In the event that an agreement is not reached, Bloomberg Economics estimates that GDP of South Korea will have 1.7%, with the possibility of damage to market fluctuations and increased uncertainty. External exports have made up more than 40% of South Korea GDP over the past year. “Japan’s commercial agreement offers a positive climate, but it puts a high ceiling for other countries.” And “Korea and Taiwan may need to improve new investment programs to increase their imports of agricultural products and energy sources, and to expand their markets, similar to what Japan has done.”