Trump strikes trade deal with South Korea featuring 15% tariffs
Photo: Donald Trump (Getty Images)
The United States has signed a trade deal with South Korea, setting tariffs for Seoul at 15%, according to President Donald Trump on Truth Social.
"I am pleased to announce that the United States of America has agreed to a full and complete trade deal with the Republic of Korea," President Trump stated.
According to him, the agreement includes South Korea committing $350 billion for US investments and purchasing $100 billion worth of liquefied natural gas (LNG) and other energy products.
Seoul also agreed to make a significant additional investment, the details of which will be announced within the next two weeks during a bilateral meeting at the White House with South Korean President Lee Jae-myung.
"It is also agreed that South Korea will be completely OPEN TO TRADE with the United States, and that they will accept American products, including cars and trucks, agriculture, etc. We have agreed to a tariff for South Korea of 15%. America will not be charged a tariff," Trump added.
Trump's tariff policy
Earlier in April, President Trump introduced sweeping import tariffs, sparking global concern and market turbulence. However, on April 9, he paused the additional tariffs for over 75 countries that requested trade negotiations.
Just recently, the US and EU also reached a trade agreement. Trump announced a 15% general tariff on imports from the 27 EU member states. Whether the new deal with the EU will benefit Ukraine remains a topic of interest.
Trump also pledged to impose tariffs on India, one of Russia's largest trading partners.
