President Donald Trump says the U.S. will charge a 15% tariff on imports from South Korea as part of a deal that eases, for now, tension with a top-10 trading partner and key Asian ally.

Washington

Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.

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President Donald Trump has stated that the United States will impose a 15% tariff on imports from South Korea. The announcement is part of a broader trade agreement that aims to ease tensions between the two countries, both important trading partners and allies. As part of the deal, South Korea has agreed to invest $350 billion in U.S.-selected projects and to purchase $100 billion worth of American energy products. The agreement also includes South Korea accepting U.S. cars, trucks, and agricultural products without imposing import duties, and a reduction of U.S. tariffs on South Korean autos from 25% to 15%.

The new trade arrangement does not cover steel, aluminium, or copper. South Korea's President Lee Jae-myung described the deal as a significant achievement, with investments targeting shipbuilding, chips, nuclear power, batteries, and biologics. South Korea also maintained protections for its rice and beef markets despite U.S. requests for further access. Major business deals, including Samsung's $16.5 billion chip agreement with Tesla and LG's $4.3 billion battery deal, were also announced.

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

President Donald Trump said the U.S. will charge South Korean imports a 15 percent tariff rate Wednesday. For now, the deal eases tension between Washington and a top 10 trading partner and key ally in Asia. It's among key trade announcements made before Trump's self-imposed August 1 deadline, when higher tariffs on U.S. imports are set to kick in for many countries. On social media, Trump said South Korea has agreed to invest $350 billion in projects chosen by himself, and also buy $100 billion of liquefied natural gas and other energy products from the U.S. Both have been major priorities for Trump in other trade deals. He added South Korea would accept American products such as cars, trucks and agriculture and impose no import duties on them. U.S. Commerce Secretary Howard Ludnick, on X, said U.S. tariffs on South Korean autos would be lowered to 15 percent from 25 percent. He added South Korea would not be treated any worse than other countries over tariffs on its key industrial exports, chips and pharmaceuticals. But the new deal doesn't cover steel, aluminium and copper. The negotiations were an early test for South Korean President Lee Jae-myung, who took office in June after a snap election. Lee said on social media Thursday the country had crossed a big hurdle. South Korea's presidential office said of the $350 billion investment fund, $150 billion was aimed at a shipbuilding partnership, while $200 billion would include funds for chips, nuclear power, batteries and biologics. South Korean presidential adviser Kim Yong-bum said they would safeguard the country's rice and beef markets. KIM YONG-BUM, South Korean Presidential Adviser to the U.S. It is true that there were strong demands from the United States to further open our agricultural and livestock markets during negotiations. However, we agreed not to further open South Korea's rice and beef markets given the food security and sensitivity of the agricultural sector. Pressure had been mounting on South Korea since Japan's deal earlier this month cut Trump's threatened tariffs to 15 percent. Top South Korean officials were believed to have met with Trump in Washington, D.C., shortly before the deal was reached. Amid the last-minute push to reach a tariff deal, South Korea's Samsung inked a $16.5 billion chip deal with U.S. EV maker Tesla. Sources say Tesla also recently signed a $4.3 billion deal with South Korea's LG for its batteries.

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

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