Trump, South Korea reach trade deal with fifteen per cent tariffs
(MENAFN) U.S. President Donald Trump announced on Wednesday that the United States and South Korea have finalized a “full and complete” trade agreement, which includes imposing a 15 percent tariff on South Korean exports.
In a post on his Truth Social platform, Trump stated, “We have agreed to a Tariff for South Korea of 15%. America will not be charged a Tariff.”
He further revealed that South Korea has committed to investing $350 billion in projects “owned and controlled by the United States,” with the projects personally selected by Trump.
Additionally, Trump said South Korea will purchase $100 billion worth of liquefied natural gas and other energy products from the U.S., along with an extra, yet-to-be-specified “large sum of money.” Details on this additional amount are expected to be announced within the next two weeks, coinciding with a bilateral meeting between Trump and South Korean President Lee Jae-myung at the White House.
Trump also congratulated Lee on his recent electoral victory and noted that South Korea agreed to fully open its market to American goods, including cars, trucks, and agricultural products.
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