Trump, Lee Meet, Utah Explores Nuclear Energy Expansion | Balance of Power 8/25/2025
Bloomberg Television·2025-08-25 18:38

US-South Korea Relations & Geopolitical Implications - The US-South Korea alliance is considered strong, with potential for collaboration on regional tensions [5][6] - Discussion of potential Xi-Trump meeting at the APEC summit in South Korea in October, indicating ongoing diplomatic efforts [7] - Potential for heightened tariffs against Beijing if magnet release negotiations stall, impacting trade relations [7] Trade and Investment - South Korea currently benefits from a 15% preferential tariff rate on exports, with key details of the future trade framework pending [8] - A $350 billion investment deal is under discussion, with $150 billion potentially allocated to shipbuilding in the United States [8][9] - Discrepancies exist regarding whether the $350 billion is direct capital investment or loan guarantees [11] Energy & Nuclear Power - Operation Gigawatt aims to double Utah's energy production, emphasizing the need for nuclear power for economic progress and national security [24] - Terra Power is developing advanced nuclear reactors, with potential deployment in Utah, offering safer and cheaper alternatives to current plants [23][29] - Advanced nuclear reactors use liquid sodium for cooling, enabling low-pressure plants with built-in energy storage to balance renewable energy sources [30][31] - The US has fallen behind China and Russia in new nuclear builds, highlighting the need to revitalize the US nuclear energy sector [28] - EPA is pulling almost $62 million in solar grants from Utah, impacting the state's "all of the above" energy strategy [37]