‘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 says
The US has reached a new trade agreement with South Korea that includes a 15% tariff on its exports to the United States, President Donald Trump announced Wednesday.
“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,” Trump said on his Truth Social platform.
In addition, South Korea will purchase $100 billion worth of liquefied natural gas (LNG) and other energy products, Trump said, adding “South Korea has agreed to invest a large sum of money for their Investment purposes.”
Trump also noted that South Korea will completely open its markets to US goods, including cars, trucks and agriculture, while South Korean goods will be subject to a 15% tariff under the deal, and “America will not be charged a Tariff.”
Earlier, Trump said his administration has struck a trade deal with Pakistan as talks continue with other nations, including South Korea, ahead of his self-imposed Aug. 1 deadline.
