Seoul: President Lee Jae Myung announced that a recent tariff deal with the United States has reduced economic uncertainties, while also highlighting advancements in discussions concerning the supply of fuel for nuclear-powered submarines.

According to Yonhap News Agency, in his budget speech at the National Assembly, President Lee reviewed the outcomes of his summit with U.S. President Donald Trump. The summit concluded with the finalization of South Korea's US$350 billion investment pledge in return for reduced U.S. tariffs. This agreement is expected to level the playing field for South Korea in crucial export sectors such as automobiles and semiconductors.

Last week, President Lee sought President Trump's approval for South Korea to possess fuel for nuclear-powered submarines. In exchange, Trump consented to South Korea constructing nuclear-powered submarines at a U.S. shipyard owned by South Korea's Hanwha Ocean. Although Lee did not specifically mention Trump's approval, he referred to the "progress" in discussions with the U.S. regarding the fuel supply for these submarines.

Lee stated, "Progress in consultations on the supply of nuclear fuel for nuclear-powered submarines has strengthened the foundation for self-reliant defense." This progress is seen as a crucial step in enhancing South Korea's defense capabilities.

During last week's Asia-Pacific Economic Cooperation (APEC) meeting, Lee emphasized that South Korea's comprehensive diplomatic efforts achieved the best possible results despite challenging circumstances. He reiterated the government's commitment to bolstering national power and enhancing the country's global standing through pragmatic diplomacy focused on national interests.