President Donald Trump on Wednesday announced a trade deal with South Korea.
The deal includes a 15% tariff on goods made in South Korea. Trump had previously placed a 25% tariff on South Korean goods. He also announced that the deal includes a $350 billion payment for investments “controlled by the United States, and selected by myself (sic), as President.”
“Additionally, South Korea will purchase $100 Billion Dollars of LNG, or other Energy products and further, South Korea has agreed to invest a large sum of money for their Investment purposes,” Trump wrote on Truth Social.
“This sum will be announced within the next two weeks when the President of South Korea, Lee Jae Myung, comes to the White House for a Bilateral Meeting,” he continued.
“It is also agreed that South Korea will be completely OPEN TO TRADE with the United States, and that they will accept American products, including Cars and Trucks, Agriculture, etc,” Trump added.