Trump: "South Korea-U.S. Relations Are Special... U.S. Shipbuilding Industry Will Be Revived" [Gyeongju APEC]

President Trump Delivers Keynote at APEC CEO Summit
Expects Tariff Negotiations with South Korea to "Conclude Soon"
On China: "Will Finalize Agreement... No Need for War"

President Donald Trump of the United States emphasized the partnership between South Korea and the United States, pledging to revive the American shipbuilding industry. Regarding the U.S.-China summit scheduled for the 30th, he stated, "There is no reason for war," implying that a positive outcome is expected.

Donald Trump, President of the United States, is delivering a special keynote speech at the '2025 Asia-Pacific Economic Cooperation CEO Summit (APEC CEO SUMMIT)' held on the 29th at Gyeongju Arts Center in Gyeongbuk. 2025.10.29 Photo by Kang Jinhyung

Trump: "The Korea-U.S. relationship is special... We will bring the shipbuilding industry back to America"

At the '2025 Asia-Pacific Economic Cooperation (APEC) CEO Summit' held at the Gyeongju Arts Center in Gyeongbuk on the 29th, President Trump said, "We (the United States) are cooperating with you (South Korea) in the field of shipbuilding," adding, "South Korea and the United States have a very special relationship, like a marriage."

President Trump stated, "During World War II, we were number one in the shipbuilding industry," and added, "Back then, the United States had the technology to build a ship a day, but that's no longer the case."

He continued, "Many people here are preparing together, and we are getting ready to bring those things (the shipbuilding industry) back to the United States," expressing his belief that "it will be a truly great achievement." He further stated, "Alliances in the Indo-Pacific region will be strengthened, and the world will become safer."

Regarding his victory over former President Joe Biden in the recent presidential election, he described it as "an overwhelming win" and said that many industries have been "rebuilt" since his inauguration. President Trump said, "We are rebuilding amazing things," and added, "We have the strongest military in the world, and South Korea is also purchasing a lot of American military equipment and weapons."

While listing industries that are performing well, President Trump once again emphasized the revival of the shipbuilding industry. He said, "Except for shipbuilding, we are doing well in airplanes and aircraft carriers," and added, "Shipbuilding and semiconductor manufacturing will also soon be revived."

President Trump projected that tariff negotiations with South Korea would soon be concluded. He stated, "I expect negotiations with Cambodia, Japan, and also South Korea to be wrapped up soon," adding, "I see this as a great victory for everyone."

"Will meet Xi Jinping to finalize a trade agreement... Good for the whole world"

Donald Trump, President of the United States, is delivering a special keynote speech at the 2025 Asia-Pacific Economic Cooperation CEO Summit held at the Gyeongju Arts Center in Gyeongbuk on the 29th. 2025.10.29 Photo by Kang Jinhyung

Regarding the U.S.-China summit scheduled for the 30th with Chinese President Xi Jinping, President Trump said, "Tomorrow, I will meet with the Chinese leader to finalize a trade agreement."

President Trump stated, "Negotiating and reaching an agreement through dialogue is much better than fighting, and far better than war," adding, "There is no reason to go to war. That is why I am meeting President Xi."

He continued, "We hope to sign a trade agreement with China, and we are all looking forward to it," emphasizing, "This will be good for South Korea and for every country around the world."

President Trump added, "We will put an end to issues such as unfair trade barriers, unfair market access, unstable supply chains, and vulnerable supply chains."

President Trump gave a positive assessment of the U.S. economic outlook. He said, "The United States currently enjoys a strong economy and is firmly protecting its borders," describing this period as "a golden era with a stronger spirit than any other country."

He further explained, "The stock market has achieved its best performance in nine months, and in a year or two, we will see the best growth rates ever," adding, "This is a time of transition, and we are undergoing an economic revolution."

President Trump especially criticized the Federal Reserve, saying, "The Fed will not raise interest rates."

Regarding Jerome Powell, Chair of the Federal Reserve, President Trump remarked, "Powell is incompetent and slow," and added, "Chair Powell will step down in a few months, and a good person will be appointed."

President Trump said, "The United States has always maintained the lowest interest rates, but that is not the case now. In the past, good news would make the stock market rise, but now the market falls. This is because the Fed raises interest rates out of concern for inflation."