President Donald Trump announced Wednesday that the United States has reached a new trade agreement with South Korea that will reduce tariffs on imports from the country from 25% to 15%. Trump made the announcement on Truth Social, emphasizing that “the United States will pay no tariffs.”
The deal also includes a $350 billion investment commitment from South Korea into the U.S. economy, along with $100 billion in purchases of U.S.-produced liquefied natural gas and other energy exports, according to Trump.
The agreement reportedly includes expanded access for U.S. agricultural products and automobiles in South Korean markets. Trump said South Korea will now be “fully open” to U.S. trade.
The announcement comes just days before a self-imposed deadline Trump had set for imposing unilateral tariffs on trade partners that failed to reach deals. A formal signing ceremony is expected in the coming weeks during a planned visit to the White House by South Korean President Lee Jae-myung.
