Washington: U.S. President Donald Trump announced that his administration has agreed to impose 15 percent tariffs on South Korea under a new trade deal. This rate is 10 percentage points lower than what was initially proposed. The new agreement ensures that America will not face any tariffs, marking a significant development in trade relations between the two countries.
According to Yonhap News Agency, Trump revealed the details of the agreement in a social media post following discussions with a South Korean trade delegation. The announcement came as Seoul pushed to finalize a deal before the reciprocal tariffs were set to come into effect on Friday. In his post on Truth Social, Trump stated, "We have agreed to a Tariff for South Korea of 15%. America will not be charged a Tariff."