From Daily Mail: President Donald Trump said on Wednesday the United States would charge a 15% tariff on imports from South Korea as part of an agreement with the Asian trading partner that avoids even higher levies.
‘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,’ Trump said on Truth Social.
As part of the arrangement, South Korea would invest $350 billion in the United States in projects selected by Trump and purchase $100 billion of liquefied natural gas and other energy products, the president said.
Trump wrote in a Truth Social post:
“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. The Deal is that South Korea will give to the United States $350 Billion Dollars for Investments owned and controlled by the United States, and selected by myself, as President. Additionally, South Korea will purchase $100 Billion Dollars of LNG, or other Energy products and, further, South Korea has agreed to invest a large sum of money for their Investment purposes. This sum will be announced within the next two weeks when the President of South Korea, Lee Jae Myung, comes to the White House for a Bilateral Meeting. I would also like to congratulate the new President on his Electoral Success. It is also agreed that South Korea will be completely OPEN TO TRADE with the United States, and that they will accept American product including Cars and Trucks, Agriculture, etc. We have agreed to a Tariff for South Korea of 15%. America will not be charged a Tariff. I would like to thank the Trade Representatives who came forward today. It was an Honor to meet them, and talk about the Great Success of their Country!”
Three South Korean cabinet-level officials—Finance Minister Koo Yun-cheol, Industry Minister Kim Jung-kwan, and Minister for Trade Yeo Han-koo—met with US Commerce Secretary Howard Lutnick in Washington for trade talks. These officials, who had been in Washington since last week, were accompanied by top business leaders who had flown in to assist in negotiating the tariff deal.
Lutnick also announced that trade deals with both Cambodia and Thailand had been signed.
