South Korean lawmakers have passed a law to implement a pledge of $350 billion in U.S. investments Seoul made last year to avoid the Trump administration’s highest tariffs.
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She says she's thrivingPope announces resignation of US bishop accused of embezzling $270K from California parishMandatario norcoreano Kim Jong Un observa pruebas de misiles de crucero con su hijaThe National Assembly passes a law to implement hundreds of billions of dollars in U.S. investments at the National Assembly in Seoul, South Korea, Thursday, March 12 2026. Trucks run by containers at the Uiwang ICD Terminal in Uiwang, South Korea, Thursday, March 12, 2026. A truck runs by containers at the Uiwang ICD Terminal in Uiwang, South Korea, Thursday, March 12, 2026. A crane unloads a container at the Uiwang ICD Terminal in Uiwang, South Korea, Thursday, March 12, 2026. A crane unloads a container from a truck at the Uiwang ICD Terminal in Uiwang, South Korea, Thursday, March 12, 2026. The National Assembly passes a law to implement hundreds of billions of dollars in U.S. investments at the National Assembly in Seoul, South Korea, Thursday, March 12 2026. The National Assembly passes a law to implement hundreds of billions of dollars in U.S. investments at the National Assembly in Seoul, South Korea, Thursday, March 12 2026. Trucks run by containers at the Uiwang ICD Terminal in Uiwang, South Korea, Thursday, March 12, 2026. Trucks run by containers at the Uiwang ICD Terminal in Uiwang, South Korea, Thursday, March 12, 2026. A truck runs by containers at the Uiwang ICD Terminal in Uiwang, South Korea, Thursday, March 12, 2026. A truck runs by containers at the Uiwang ICD Terminal in Uiwang, South Korea, Thursday, March 12, 2026. A crane unloads a container at the Uiwang ICD Terminal in Uiwang, South Korea, Thursday, March 12, 2026. A crane unloads a container at the Uiwang ICD Terminal in Uiwang, South Korea, Thursday, March 12, 2026. A crane unloads a container from a truck at the Uiwang ICD Terminal in Uiwang, South Korea, Thursday, March 12, 2026. A crane unloads a container from a truck at the Uiwang ICD Terminal in Uiwang, South Korea, Thursday, March 12, 2026. SEOUL, South Korea — South Korean lawmakers on Thursday passed a law to implement a pledge of $350 billion in U.S. investments Seoul made last year to avoid the Trump administration’s highest tariffs. Government officials had urged lawmakers to quickly pass the contested bill, submitted in November, as uncertainty mounts for the country’s trade-dependent economy, already rattled by President Donald Trump’s protectionist swing and now fearing the fallout from his war on Iran.into manufacturing in foreign countries, including China and U.S. allies South Korea and Japan, which could result in new import taxes if U.S. officials see their practices as unfair. Trump and his team have made clear they’re seeking to use new tariffs to recoup lost revenue after the U.S. Supreme Court China expressed opposition to the move and called for negotiations to resolve any differences. “China opposes any form of unilateral tariff measures,” Foreign Ministry spokesperson Guo Jiakun said in Beijing. “Tariff wars and trade wars serve no one’s interests.” The South Korean law, which passed 226 to 8, calls for establishing a public corporation to manage the promised U.S. investments, including reviewing and selecting projects based on input from South Korean and U.S. trade authorities. Some lawmakers spoke against the bill ahead of the vote, expressing frustration over Trump’s new trade investigations and the potential impact of the war in the Middle East, which has exposed the vulnerability of South Korea’s export-dependent economy and reliance on imported fuel. “We cannot be the money machine Trump wants us to be,” said Son Sol, a member of the minor opposition Progressive Party. She said the bill does not give the legislature sufficient power to review and reject investments that could go against South Korean business or public interests. Following months of tense negotiations, South Korea finalized an agreement with the United States in November to invest $200 billion in U.S. semiconductor and other high-tech industries and another $150 billion in shipbuilding in exchange for Washington lowering reciprocal tariffs on Seoul from 25% to 15%.between Trump and South Korean President Lee Jae Myung, also caps South Korean investments at $20 billion a year to protect the country’s foreign currency reserves. Lee’s liberal Democratic Party introduced the legislation in November but faced resistance from opposition lawmakers worried about the economic impact. The legislative holdup frustrated Trump, who in Januaryon South Korean autos, pharmaceuticals and other goods back to 25%, increasing pressure on the opposition to move the bill forward.Kim has been covering the Koreas for the AP since 2014. He has published widely read stories on North Korea’s nuclear ambitions, the dark side of South Korea’s economic rise and international adoptions of Korean children.
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