US strikes trade deal with South Korea including 15 percent tariff, Trump says

The United States has reached a new trade agreement with South Korea that includes a 15 percent tariff on South Korean exports to the US, President Donald Trump announced.

"I am pleased to announce that the United States of America has agreed to a Full and Complete Trade Deal with the Republic of Korea," Trump wrote on his Truth Social platform on Wednesday.

Donald J. Trump Truth Social 07.30.25 06:16 PM EST pic.twitter.com/hJBnkKNj0m

— Fan Donald J. Trump Posts From Truth Social (@TrumpDailyPosts) July 30, 2025

He said the deal includes a $350 billion commitment from South Korea for investments that will be "owned and controlled by the United States, and selected by myself, as President."

Trump added that South Korea will also purchase $100 billion worth of liquefied natural gas (LNG) and other energy products.

"South Korea has agreed to invest a large sum of money for their investment purposes," he said.

As part of the agreement, Trump said South Korea will fully open its markets to US goods, including cars, trucks, and agricultural products.

In return, South Korean exports to the US will face a 15% tariff, while US goods will enter South Korea tariff-free.

Earlier in the week, Trump said his administration had also reached a trade deal with Pakistan, and that talks were ongoing with other countries ahead of his self-imposed August 1 deadline for new trade agreements.

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Source: TRT