US to impose 15% tariffs on South Korea as part of trade deal, Donald Trump says | Trump tariffs
President Donald Trump said that the US will receive 15% tariff from South Korea as a part of an agreement with the key Asian trade partner and ally, which avoids higher taxes.
The regulation, which was announced shortly after Trump’s meeting with Korean officials at the White House, came during the snow storm of trade policy announcements before a deadline dated 1 August.
Trump promised higher tariffs that the US will start imports from various countries. Imports from South Korea, a power center exporter of computer chips, cars and steels, faced 25%.
“I am pleased to announce that the United States agreed to make a complete and complete trade agreement with the Korean Republic of Korea, Tr Trump said on Wednesday, Trump.
South Korean President Lee Jae Myung said on Thursday that the agreement would form South Korea an equal or better basis compared to other countries.
Lee also said that countries agreed to establish an investment fund of $ 350 billion for a $ 150 billion shipbuilding partnership.
In a statement published on Facebook, Lee, the management of the agreement since June in June, “the first great trade struggle” by describing the agreement by adding the following, “We overcome a big obstacle,” he said.
“Through this agreement, the government has eliminated the uncertainty surrounding the export conditions, and the US tariffs in our exports have made it equal or equal to those imposed on our major competitors,” Lee said.
15 % is equivalent to the taxes determined by the US trade agreements with Japan and the European Union.
As part of the regulation, Trump said that South Korea would invest $ 350 billion in the projects he has chosen to the US and that he would buy 100 billion dollars of liquefied natural gas and other energy products.
It was not immediately clear how to configure or when the investment agreements would be structured or when. Trump said that additional investments will be announced later.
The US President added that Lee will visit the White House for a meeting with Trump within the next two weeks ”.
He also said that he would accept American products – including cars, trucks and agriculture – and did not import them.
South Korea Presidential Office, the US within the scope of the United States on South Korean -made cars will reduce tariffs from 25%to 15%, he said. In addition, the country’s computer chips and pharmaceutical tariffs applied to the US exports to the United States will not be worse than other countries and South Korea’s rice and cattle markets will not be open, he said.
South Korean Finance Minister Koo Yun-Cheol, Industry Minister Kim Jung-Kwan and Trade Minister Yeo Han-Koo was in Washington to meet with senior US officials and was believed to have met with Trump shortly before the agreement announcement.
Japan has been pressing on South Korea since it made an agreement to reduce Trump’s threatening tariffs to 15% at the beginning of this month.
In the midst of last -minute pushing of government officials to reach a tariff agreement, South Korea’s Samsung Electronics signed a $ 16.5 billion chip agreement with Tesla.
South Korean battery manufacturer LG Energy Solution, familiar to Reuters, signed an agreement of $ 4,3 billion to supply energy storage system batteries to Tesla.
Unlike 15% tariff for South Korea, Trump brought 25% for imports from India on Wednesday and 50% of Brazil.
With Reuters and Agency France-Presse
