U.S. President Donald Trump on Wednesday announced that Washington had reached a “Full and Complete” trade deal with Seoul, setting blanket tariffs on the country’s exports to U.S. at 15%. This deal means that duties will be lowered from the 25% that Trump had threatened in his “tariff letter” to Seoul earlier this month. Tariffs on the country’s auto exports set at 25% will also be cut to 15%.
Trump also said in his post on social media platform Truth Social 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.”
