WASHINGTON: President Donald Trump has confirmed the United States will impose a 15 percent tariff on imports from South Korea, framing the move as part of a broader trade agreement between the two nations.
The decision comes after earlier threats of a 25 percent tariff.
In a post on his Truth Social platform, Trump stated, “South Korea will give to the United States $350 Billion Dollars for Investments,“ while also committing to purchase $100 billion in liquefied natural gas or other energy products.
An additional undisclosed sum is expected to be invested by Seoul.
Since his return to the White House in January, Trump has implemented a 10 percent baseline tariff on multiple trading partners, with planned increases for dozens of economies starting August 1.
The policy also includes higher tariffs on steel, aluminum, and automobiles. – AFP
