Trump announces trade deal with South Korea, setting tariffs at 15%
File Photo: US President Donald Trump is acting at a joint press conference in South Korea.
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On Wednesday, US President Donald Trump announced that Washington has reached a “full and complete” trade agreement with Seoul and has created a 15%blanket tariffs for the country’s exports.
This means that Trump will be given to Seoul at the beginning of this month from 25% threatened in the “Tariff Letter”. Tariffs in automobile exports, which are determined as 25% of the country, will decrease to 15%.
Trump also said in an article in the social media platform in Social, South Korea, “the United States has the United States and will give $ 350 billion for investments that have been checked and selected as president.”
South Korea President Lee Jae-Myung, in a Facebook article, the country’s tariff negotiations with the United States and the 350 billion dollar fund “Korean companies will actively access the US market and shipbuilding, semiconductors, second place, biotechnology, Korea, KNC, according to KNC.
Authorized $ 150 billion of this allocation, “the US shipbuilding industry entering the Korean companies that provide strong support to cooperation,” and “not only monitoring unilateral earnings, but not only to achieve mutual useful results,” he said.
US Trade Secretary Howard Lutnick said that 90% of the abdomen will “go to the American people” from an investment of $ 350 billion. This is similar to what Trump explained about Japan’s investment in the US at the beginning of this month.
The Japan government said on Friday, according to a Reuters report, an investment of 550 billion dollars adopted in a tariff agreement with the United States will be divided according to the degree of contribution between the two countries.
On Wednesday, Trump added that Seoul would buy $ 100 billion LNG or other energy products from the United States as part of the agreement, and that Seoul agreed to invest in “large amounts of money for investment purposes”. The total will be announced when Lee visits Washington for a binary summit in the next two weeks.
Authorized, US goods will not be exposed to any tariff, he added. As of 2024, South Korea’s effective tariff ratio for goods imported from the USA It was about 0.79%. Seoul has a free trade agreement. Since 2012, the United States.
“I hope that the industrial cooperation between Korea and the United States will be strengthened and the alliance between Korea and the United States will be strengthened,” Lee said that Seoul will keep the “diplomacy focused on national interests”.
South Korea’s agreement with the United States is coming days after Japan has succeeded in entering a similar agreement with Trump.
