INTERNATIONAL
2 min readUS and South Korea Reach Trade Deal with 15% Tariffs
TrueGov Editorial Team•9 months ago•2 min read
Agreement includes $350 billion investment fund ahead of August deadline
1.
President Donald Trump announced a new trade agreement with South Korea on Wednesday, establishing a 15% tariff rate on South Korean goods ahead of the August 1 deadline. The agreement includes a commitment from South Korea to provide $350 billion for investments in the United States. This deal replaces the potential 25% 'reciprocal' tariff that South Korean goods briefly faced in April before Trump paused levies affecting multiple nations.