Trump imposes 15% tariff on South Korean imports under new trade deal

31 Jul '25

1 min read

Trump imposes 15% tariff on South Korean imports under new trade deal

Pic: Adobe Stock

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US President Donald Trump has announced a major trade agreement with South Korea, including a 15 per cent tariff on South Korean imports to the US, while American exports will face no tariffs.
The deal features $350 billion in South Korean investments in US-controlled projects and $100 billion in energy purchases.
South Korea will fully open its markets to US goods.

US President Donald Trump on Wednesday unveiled a sweeping trade agreement with South Korea that includes a 15 per cent tariff on all South Korean goods entering the US—while American exports to South Korea will face zero tariffs.

The deal, announced via Truth Social, also includes $350 billion in South Korean investments in US-owned and controlled projects, and $100 billion in energy purchases, including LNG.

Trump stated that South Korea will fully open its markets to US products such as cars, trucks, and agricultural goods. He added that a further investment figure from South Korea, for its own development objectives, will be announced during South Korean President Lee Jae Myung’s upcoming visit to the White House.

“I would also like to congratulate the new President on his electoral success,” Trump said. “It was an honour to meet their trade representatives and talk about the great success of their country.”

Fibre2Fashion News Desk (KD)

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