U.S. and South Korea on Friday unveiled details of a trade agreement that includes a $150 billion South Korean investment in the U.S. shipbuilding industry, along with an additional $200 billion designated for broader industrial sectors, the two governments said.

The joint announcement followed a meeting in October between South Korean President Lee Jae Myung and U.S. President Donald Trump, where they agreed to a deal that would cut American import duties on South Korea’s products to 15% from 25%.

Under the agreement, Lee said South Korea will build nuclear-powered submarines and form a new partnership with the U.S. on shipbuilding , artificial intelligence and the nuclear industry.

A fact sheet released by the White House said that the U.S. gave approval for South Korea to build n

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