South Korea pledges $150 billion to help US restore its shipbuilding industry

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South Korea has pledged US$150 billion to help its shipbuilders enter the US market as part of Seoul’s new trade deal with Washington. The move will aim to help America revive its shipbuilding industry and counter China’s dominance in the sector. US President Donald Trump announced on July 30, 2025, that the United States and South Korea had agreed on a “full and complete” trade deal, which would see the US impose a 15 per cent tariff on South Korean goods and receive US$350 billion of investments from its Asian ally.