South Korea rejects Trump’s proposal to reduce customs duties

South Korea presidential advisor explained today, Saturday, that Seoul is unable to pay 350 billion dollars invested in the United States, as President Donald Trump suggested as part of an agreement to reduce customs duties, stressing that the country is looking for an alternative solution.

A day ago, Trump confirmed that South Korea should submit these investments in advance, but Seoul has made it clear that it will suffer from a financial crisis if it decides the American demands without guarantees, according to Reuters. Last July, South Korea has pledged to invest $ 350 billion in American projects, but it refused the American demands to control funds. Earlier, President Lee Jay Meong explained that without guarantees such as barter currency, the South Korean economy could drown in a crisis. A South Korean government official said that his country’s position is still being that they will negotiate with the United States under the principle that the agreement must meet national interests and be a commercially glorious.