US-South Korea Trade Agreement Announced

US President Donald Trump has announced a comprehensive trade agreement with South Korea, introducing a 15% tariff on imports from Seoul. In a significant move, America will not face any tariffs under this deal.

Massive Investments and Energy Purchases

As part of the agreement, South Korea will invest $350 billion in the United States, with investments to be owned, controlled, and personally selected by President Trump. Additionally, South Korea has committed to purchasing $100 billion worth of LNG or other energy products.

Opening Markets to American Goods

President Trump highlighted that the deal would fully open South Korea to American goods, including cars, trucks, and agricultural products, without any tariffs on US exports.

Reactions from Both Leaders

South Korea's President Lee Jae Myung described the agreement as a significant achievement for his administration, ensuring favorable export conditions for Korean companies. President Trump congratulated Lee on his electoral success and thanked the trade representatives for their efforts.

Global Trade Measures

This announcement comes as part of President Trump's broader strategy to implement aggressive trade measures, including tariffs on allies and competitors, set to increase from August 1.