South Korea has reached a trade agreement with the U.S., avoiding steep 25% tariffs but leaving duties unresolved on key exports like semiconductors and pharmaceuticals.
Breakdown
- South Korea and the US finalized a deal to avoid a 25% tariff increase.
- Tariff terms for semiconductors and pharmaceuticals remain unresolved. 8s
- South Korea upheld restrictions on US rice and older beef imports. 36s
- $150 billion of South Korea's investment will support US shipbuilding. 1m 14s
- Defense cost-sharing talks will be held separately at a future summit. 1m 48s
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Global Tariffs
Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.