Unilateral investment announcements pile up ahead of US midterms

Seoul says investment amount, decision not yet finalized

US President Donald Trump speaks to reporters on the South Lawn of the White House before boarding Marine One on Friday (local time). [AP]
US President Donald Trump speaks to reporters on the South Lawn of the White House before boarding Marine One on Friday (local time). [AP]

US President Donald Trump openly pressured South Korea on Friday (local time) over its participation in the Alaska liquefied natural gas project, warning that Seoul would face greater costs if it did not commit to the investment soon — even as Trump himself had already announced the deal unilaterally.

Speaking to reporters at the White House, Trump pushed back against a question suggesting his earlier announcement had been premature, given that South Korea had not agreed to the Alaska project. "It wasn't premature," he said. "They were there — there was a Korean delegation."

Trump then issued a blunt warning. "We'll see. If they don't want to do it, that's OK with me — I'll just charge them more," he said. "Tell them if they don't agree, I'll double it."

Trump did not specify what exactly he would double or charge more of. Analysts say South Korea could face higher tariffs or demands for a larger investment commitment if it continues to push back on the Alaska project.

Trump had unilaterally announced on Wednesday that South Korea would invest more than $50 billion in the Alaska project. The South Korean government, however, has maintained that neither the decision to invest nor the scale of any investment has been finalized.

Some analysts say the moves are driven by the US midterm elections, now about a month away. The announcements are seen as an effort to boost the incumbent Republican senator in Alaska, who is locked in a tight race against a Democratic Party candidate.

Trump has continued to make unilateral announcements about projects tied to South Korean investment.

Earlier that Friday morning, he posted on his Truth Social platform claiming South Korea would invest $8.4 billion in an enhanced oil recovery project.

The South Korean government said the project was not included in any agreed-upon South Korea-US investment package and that it had asked the US side to clarify the facts.


kido@heraldcorp.com