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Trump announces 'full and complete' trade deal with South Korea
Trump just revealed a "full and complete" trade deal with South Korea after White House talks.
The agreement drops tariffs on South Korean imports to 15% (down from the planned 25%), aiming to keep US-South Korea relations strong before new US tariffs kick in for other countries on August 1.
Deal includes $350 billion investment in the US
South Korea will invest $350 billion in the US, including $150 billion for shipbuilding and a huge $100 billion purchase of American liquefied natural gas.
Both sides agreed to lower auto import tariffs, and US farmers will find it easier to export—though South Korean rice and beef markets stay closed.
President Lee Jae Myung called the deal fair and hinted at even more future investments as he plans a visit to the White House soon.