What is the US-South Korea trade deal?
Asked 11 days 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.
Now Playing
Trump says U.S. will set 15% tariff on South Korean imports
Reuters ยท 12 days ago
Reuters
12 days ago
- 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
References
Reuters
12 days agoTrump 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.