United States President Donald Trump announced on Wednesday that he has reached a deal with South Korea to reduce tariffs on South Korean products from 25% to 15%.
“We agreed with a 15% tariff for South Korea. The United States will not pay any fare,” the Republican President said on his social Truth platform.
According to the president, the agreement also provides that South Korea will invest $ 350 billion in the United States and buy $ 100 billion in liquefied natural gas and other American energy products.
In addition, South Korea will be “completely open” to trade with the United States, facilitating the purchase of US cars and agricultural products.
The president did not detail any concession from the United States.
Trump will formalize this pact with South Korean President Lee Jae-Myung during a meeting between the two White House leaders over the next two weeks, he added.
This Friday (1st) will be the deadline established by Trump for the unilateral imposition of tariffs on his business partners, if no prior agreement has been reached.
South Korea is the main Asian commercial partner of the United States, along with Japan. With Japan, Trump has also recently agreed to reduce rates from 25% to 15%.
Last Sunday, the US president also announced an agreement with Brussels that the US will impose 15% tariffs on most European Union (EU) products.
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