Donald Trump Announces Pre-Deadline Trade Pact with South Korea
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President Donald Trump on Wednesday said a new trade agreement with South Korea includes a set, 15 percent tariff on the country's exports to the United States.
As part of the deal, announced ahead of Friday's tariff deadline, South Korea has committed to purchasing $100 billion in U.S. energy exports and allocating $350 billion for investments that Trump said would be "owned and controlled by the United States, and selected by myself, as president."
Trump shared the news in a statement and on Truth Social, framing the agreement as a major win for American industry and energy producers. He also said that newly elected South Korean President Lee Jae-myung is expected to visit the White House in August.
This is a breaking news story. Updates to follow.
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