emirates7 - Former U.S. President Donald Trump announced on Wednesday that the United States will impose a 15 percent tariff on imports from South Korea, a reduction from the previously proposed 25 percent.
Posting on his Truth Social platform, Trump stated, "We have settled on a 15% tariff for South Korea. The U.S. itself will not face any tariff."
He added that South Korea has pledged to invest $350 billion in projects within the U.S. that will be fully American-owned and managed under his direction as president.
Trump also said that Seoul has committed to purchasing $100 billion worth of U.S. energy products, including liquefied natural gas (LNG), and agreed to open its markets to American goods such as automobiles and agricultural products.
U.S. Commerce Secretary Howard Lutnick confirmed that the 15 percent tariff would extend to imported vehicles as well.
Posting on his Truth Social platform, Trump stated, "We have settled on a 15% tariff for South Korea. The U.S. itself will not face any tariff."
He added that South Korea has pledged to invest $350 billion in projects within the U.S. that will be fully American-owned and managed under his direction as president.
Trump also said that Seoul has committed to purchasing $100 billion worth of U.S. energy products, including liquefied natural gas (LNG), and agreed to open its markets to American goods such as automobiles and agricultural products.
U.S. Commerce Secretary Howard Lutnick confirmed that the 15 percent tariff would extend to imported vehicles as well.