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What is the US-South Korea trade deal?

Asked 22 hours ago

Answer

The US-South Korea trade deal involves South Korea investing $350 billion in US-selected projects and purchasing $100 billion in American energy products. In exchange, the US imposes a 15% tariff on Korean exports, with South Korea accepting US cars, trucks, and agricultural products without import duties. The deal excludes steel, aluminium, and copper, and maintains protections for South Korea's rice and beef markets.

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Reuters

Trump says U.S. will set 15% tariff on South Korean imports

Reuters ยท Recent
Reuters
Reuters
Recent
  • U.S. will impose a 15% tariff on South Korean imports as announced by President Trump.
  • South Korea agreed to invest $350 billion in U.S. projects and buy $100 billion in energy products. 27s
  • U.S. tariffs on South Korean autos will be reduced from 25% to 15%. 1m 3s
  • The deal excludes steel, aluminium, and copper, and maintains protections for South Korea's rice and beef markets. 1m 17s
  • Samsung and LG secured major deals with Tesla for chips and batteries amid the trade negotiations. 2m 31s
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Trump says U.S. will set 15% tariff on South Korean imports
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Reuters
23 hours ago
Trump says U.S. will set 15% tariff on South Korean imports

South Korea agrees to invest $350 billion in projects chosen by the US and to buy $100 billion of American energy products. The US lowers tariffs on South Korean autos to 15% and South Korea accepts US cars, trucks, and agriculture without import duties.

Trump says U.S. will set 15% tariff on South Korean imports
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Reuters
23 hours ago
Trump says U.S. will set 15% tariff on South Korean imports

$150 billion of the investment fund targets shipbuilding, while $200 billion goes to chips, nuclear power, batteries, and biologics. South Korea maintains protections for rice and beef markets.

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