Trump says US to impose 15% tariff on goods from S. Korea
Trump said on social media that South Korea will give $350 billion for investments "owned and controlled by the United States" and selected by him, as well as buying $100 billion worth of American liquefied natural gas and other energy products.
Trump added that South Korean President Lee Jae Myung will travel to the White House for a meeting within the next two weeks when he will unveil an additional "large sum of money" for the key U.S. ally's own "investment purposes."
Trump's announcement via a Truth Social post came before the expiration on Friday of a 90-day pause on the implementation of his so-called reciprocal tariffs, targeting dozens of countries with which the United States runs trade deficits.
The post provided no information about whether his higher auto tariff of 27.5 percent will continue to apply for cars imported from South Korea.
The country-specific tariff rate of 15 percent, reduced from the 25 percent threatened in early July by Trump, is the same as that imposed on Japan and the European Union, both of which recently struck deals with his administration.
For Japan and the EU, Trump also set a 15 percent tariff on imported cars in exchange for commitments to make large investments in the United States.
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