South Korean leader says agreement eliminates ‘uncertainties’ in trade environment.
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United States President Donald Trump has announced a trade deal with South Korea, the latest agreement unveiled ahead of his August 1 deadline for the imposition of steep tariffs on dozens of countries.
Under the “full and complete” trade deal, South Korean goods will be subject to a 15 percent tariff, while US exports will not face duties, Trump said on his Truth Social platform on Wednesday.
US and South Korean officials confirmed that the 15 percent rate would apply to vehicles, a major win for the East Asian country’s auto industry, which had been subject to Trump’s 25 percent auto tariffs.
