- South Korean goods to face 15% U.S. tariff
- U.S. exports to Korea will enter duty-free
- Deal includes $100bn energy purchase and $350m investment
U.S. President Donald Trump has announced a new trade agreement with South Korea, calling it a “Full and Complete Trade Deal” on Wednesday.
Eko Hot Blog gathered that Trump disclosed the development in a post on Truth Social, stating that South Korean imports into the U.S. will attract a 15% tariff if the deal is finalised.
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Meanwhile, goods originating from the United States will enter South Korea duty-free under the agreement, according to the U.S. president.
The new tariff deal follows a July announcement where Trump threatened to impose a 25% tariff on South Korean imports starting August 1.
The revised agreement includes a commitment by South Korea to invest $350 million in the U.S., with Trump stating he will personally oversee how it is used.
Trump also revealed that South Korea will purchase $100 billion worth of American energy products, in addition to an undisclosed “large sum of money.”
He said the full financial details will be announced in two weeks when South Korean President Lee Jae Myung visits the White House for a bilateral meeting.
The United States imported roughly $132 billion in goods from South Korea in 2024, while U.S. exports to the country stood at $66 billion the same year.
South Korea accounted for 3.7% of U.S. trade last year, according to data from the U.S. International Trade Commission.
Trump also claimed that under the deal, South Korea will “completely open to trade” and accept American products like cars and agricultural goods.
The announcement is one of several recent trade moves made by Trump, who has struck tariff-related agreements with Japan, Indonesia, the Philippines, and the EU in recent days.
Analysts are watching closely as the proposed deal may significantly shift bilateral trade dynamics,particularly in the energy and automotive sectors.
