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.
window.googletag = window.googletag || {cmd: []};googletag.cmd.push(function() {googletag.defineSlot('/22826383987/dailyexpress_inline', [1, 1], 'gpt-passback').addService(googletag.pubads());googletag.enableServices();googletag.display('gpt-passback');});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.
