June 28, 2019
A VITAL PARTNERSHIP: Today, President Donald J. Trump is visiting the Republic of Korea (ROK) to reaffirm a vital partnership that is essential to our economic and security interests.
- The United States and the ROK are key partners that share deep historical, security, and economic ties.
- Our vital partnership is based on the shared principles of democracy, human rights, and the rule of law.
- The United States-ROK alliance is the linchpin of peace, security, and prosperity in the Indo-Pacific region.
- This visit will advance and strengthen economic and security cooperation between our two nations.
WORKING TOWARD THE DENUCLEARIZATION OF NORTH KOREA: President Trump is working closely with President Moon Jae-in of the Republic of Korea to achieve the final and fully verified denuclearization of North Korea and to establish a lasting peace on the Korean Peninsula.
- The United States and ROK coordination and cooperation regarding the denuclearization of North Korea is the strongest it has ever been.
- President Moon has been indispensable in assisting with President Trump’s negotiations with North Korean Chairman Kim Jong Un.
- President Trump has held two historic summits with Chairman Kim, advancing the goal of denuclearization of North Korea.
- Both President Trump and President Moon have repeatedly called on Chairman Kim to follow through on his commitment to completely denuclearize.
- President Trump and President Moon want a prosperous and peaceful future for North Korea under Chairman Kim’s continued leadership.
ADVANCING FREE, FAIR, RECIPROCAL TRADE: President Trump is rebalancing United States trade with the ROK and strengthening our commercial ties.
- In 2018, the United States and the ROK two-way goods and services trade totaled more than $165 billion, including nearly $79 billion in United States exports to Korea.
- President Trump secured significant improvements to the United States–Korea Free Trade Agreement, doubling the number of America’s automobiles that can be exported to Korea without further modification and expanding exports of the finest American-made products to the ROK per year.
- Thanks to President Trump, the United States goods trade deficit with the ROK decreased by 23 percent in 2018 over the previous year.
- United States exports of auto and agricultural products, crude oil, and liquefied natural gas to the ROK increased in 2018.
- Since 2017, ROK firms’ direct investment into the United States totaled $50.6 billion.
- ROK investment in the United States is expected to grow by at least $6 billion in 2018, based on recent greenfield projects.