Trump says U.S. strikes trade deal with South Korea
Summary
The U.S. has made a new trade deal with South Korea. This deal sets tariffs for South Korean imports to the U.S. but exempts U.S. exports to South Korea from tariffs. South Korea will also purchase U.S. energy products and participate in a large investment fund.Key Facts
- The U.S. announced a new trade deal with South Korea.
- South Korean imports to the U.S. will have a 15% tariff.
- U.S. exports to South Korea will not have any tariffs.
- South Korea will buy $100 billion worth of U.S. energy products.
- The agreement includes a $350 billion investment fund.
- Attention may now turn to trade deals with Canada and Mexico before an August 1 deadline.
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