[New Tang Dynasty Beijing Time August 26, 2025]South Korean President Lee Jae-ming discussed multiple issues during talks with US President Trump at the White House. So what cooperation will the two sides have in terms of economy and trade? Let’s look at the analysis of economist and public policy analyst “Michael Basler”.
NTD TV reporter Ma Dong: “President Trump said that the United States will buy South Korean ships. Can you tell us about the situation in the US shipbuilding industry?”
“The U.S. shipbuilding industry has gradually declined over the past three or four decades. We hope to rebuild the U.S. shipbuilding industry. A shipyard in Philadelphia sold it to a South Korean company a few years ago. I think it was called Hanwha. The U.S. hopes to introduce more South Korean shipbuilding technology. South Korea has committed to investing $150 billion in the U.S. shipbuilding industry, and another 350 billion will be used in what President Trump believes is most needed.”
Ma Dong: “What do you think the prospects for the US shipbuilding industry? Do you feel optimistic with the new partnership and the investments from South Korea in the United States you mentioned?”
Michael Boothler: “I’m very optimistic. Because for decades, none of us really value the shipbuilding industry, our technology has lagged far behind the world’s advanced standards. South Korea has the most advanced technology in shipbuilding, and they have begun to apply these technologies to the Philadelphia shipyard they acquired. President Trump hopes that they will bring these technologies into the United States and rebuild the U.S. shipbuilding industry is not only for military purposes, but also for commercial purposes. This is a major victory, a good thing for South Korea, and a very good thing for the United States. Our shipbuilding industry will revive. Of course, it will take some time, but it will revive. And President Trump hopes that the United States will become the world’s leading shipbuilding power. This is the first step toward its goal.”
Ma Dong: “Generally speaking, how important is trade or economic ties to the relationship between the two countries? Especially at present, it is particularly important that South Korea is a very important strategic ally of the United States.”
Michael Boothler: “It’s true. South Korea has a large number of cars sold in the United States. Hyundai acquired Kia, so it’s the same company. 80% of the cars sold in the United States are already produced in the United States, mainly in Georgia and Alabama. Trump hopes that this will continue. Now, some of the auto parts are not made in the United States, but are imported from South Korea, such as engines and gearboxes. President Trump will impose tariffs on these products to encourage South Korea to produce these parts locally in the United States.”
“This trick worked. Hyundai has announced that it will build another factory in the Midwest, I think it is Indiana. So it works. Manufacturing will return to the United States. South Korea has a very close relationship with the United States. Trump wants to maintain this relationship from the economic level, as well as military and strategic levels. South Korea is vulnerable to some extent because North Korea has nuclear weapons. It is very important for them to maintain a relationship with the United States. Japan is also similar. We want to maintain a good relationship with them, not only at the economic level, but also at the strategic and military level.”
Ma Dong: “Thank you very much for sharing.”
Michael Boothler: “I’m very happy.”
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