Washington: U.S. President Donald Trump announced that his administration has secured "historic" trade agreements with countries including South Korea, Japan, and India to significantly increase U.S. coal exports. The announcement was made during the "champion of coal" event at the White House, where Trump reiterated his administration's strong support for the coal industry.
According to Yonhap News Agency, Trump highlighted these agreements as part of a broader strategy to expand U.S. coal exports globally. However, it remains unclear if the trade deal with South Korea specifically includes provisions for boosting coal exports.
In July, Trump had announced an initial trade agreement with South Korea, stating that the country would purchase $100 billion worth of U.S. liquefied natural gas or other energy products. Despite this, the joint fact sheet released by Seoul and Washington in November following two summits between South Korean President Lee Jae Myung and Trump did not mention coal exports.
The trade agreement with South Korea involves several commitments, including South Korea's pledge to invest $350 billion in the U.S., with an annual investment cap of $20 billion. In exchange, the U.S. agreed to lower its tariffs on South Korean imports from 25 percent to 15 percent.