Trump says the US and South Korea reached a “full and complete trade deal,” with a 15% tariff on South Korean exports. Meanwhile, he slapped a 50% levy on Brazil.
Trump said South Korean President Lee Jae Myung would visit the White House ‘within the next two weeks’ for bilateral talks
US President Donald Trump said Wednesday that Washington will slap a 15% tariff on goods coming into the country from South Korea, a lower rate than the 25% duty he had threatened earlier.
The new levy puts South Korea on par with other US trade partners like Japan and the European Union, which have also secured trade deals with Trump that set a 15% tariff rate for their exports to the US. The new rate would also apply to South Korean automotive exports.
Trump touted it as a “full and complete trade deal” between the US and South Korea.
He said Seoul had also agreed to buy $100 billion (€87.5 billion) worth of US energy products, including liquefied natural gas (LNG).
“South Korea will give to the United States $350 Billion Dollars for Investments,” Trump said in a post on his Truth Social platform. He added that an additional unspecified “large sum of money” will be invested in the US by Seoul.
