15% Tariff Deal Avoids Higher Rate:
The U.S. will implement a 15% tariff on South Korean imports, sidestepping a potential 25% tariff that would have come into effect on August 1 without an agreement.
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Comprehensive Trade Agreement Announced: Trump announced a “full and complete” trade agreement with South Korea in a statement on Truth Social.Post in this from earlier: Trump announces a trade deal with South Korea
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$350 Billion Investment Commitment:
South Korea has pledged $350 billion in investments for U.S.-based projects, which will be chosen directly by President Trump. -
Energy Import Agreement: As part of the deal, South Korea will purchase $100 billion in U.S. energy products, including liquefied natural gas.
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Duty-Free Access for U.S. Goods:
American exports—such as vehicles, agricultural products, and other goods—will enter South Korea tariff-free under the agreement. -
Bilateral Meeting Scheduled:
South Korean President Lee Jae Myung is expected to visit the White House within two weeks for talks with President Trump.
This article was written by Eamonn Sheridan at investinglive.com.
