Trump warns South Korea of higher charges if Alaska LNG deal fails
Washington: US President Donald Trump has threatened to “charge” South Korea more if Seoul does not agree to invest in a liquefied natural gas (LNG) project in Alaska, despite the South Korean government saying its participation has not yet been finalised.
Trump made the remarks during a press availability at the White House on Friday, two days after announcing the first package of South Korea’s proposed US investment projects under a bilateral trade agreement reached last year. The package includes the Alaska LNG project, a gas-fired power plant in Texas and eight large-scale nuclear power plants.
“I didn’t jump the gun. I mean, they were there and they were represented,” Trump told reporters, referring to the announcement. “And let’s see, if they don’t want to do it, that’s okay with me. I’ll just charge them more.”
When asked about reports that South Korea had not signed an agreement for the Alaska project, Trump said, “Tell them if they don’t sign shortly, I’m going to double it up.”
Trump did not specify what South Korea would be charged if it declines to participate. US Commerce Secretary Howard Lutnick has said South Korea would invest more than $50 billion in the Alaska LNG project.
The proposed project involves a 1,298-km pipeline from Alaska’s North Slope, which has substantial proven natural gas reserves, to southern Alaska. The gas would then be cooled into liquid form and shipped to Asian markets.
Meanwhile, White House Office of Management and Budget Director Russell Vought stressed the importance of shipbuilding cooperation with South Korea and Japan as the Trump administration seeks to rebuild US shipbuilding capacity and the Navy.
Speaking at a Washington forum, Vought said the US wants to learn from South Korean and Japanese shipbuilders and apply their expertise domestically. He also called for companies investing in the US to be rewarded, citing South Korea’s Hanwha Group investment in Philadelphia’s Philly Shipyard. South Korea has committed $150 billion for shipbuilding cooperation as part of its broader $350 billion US investment pledge.
With IANS inputs