Donald Trump announced yesterday, Wednesday, that a trade agreement with South Korea has been reached, which provides for the application of additional 15% customs duties on South Korean products imported into the United States.
"We agreed on 15% tariffs on South Korea," the Republican said via Truth Social, also emphasizing that Seoul pledged to "invest $350 billion" in the US.
With this agreement, South Korea prevents US President Trump's initial threat of "retaliatory" 25% tariffs from being implemented.
The Republican expressed his satisfaction with the "large amount" that Seoul will invest in his country with "control" from Washington, in particular the purchase of "$100 billion" worth of liquefied natural gas and "other forms of energy."
Since returning to power in January, Donald Trump has turned tariffs into a key tool of his economic policy and a lever for negotiating and extracting concessions from his country's trading partners.
Dozens of countries will see additional customs duties imposed on them from August 1, after repeated postponements or pauses.
Source: skai.gr
