Trump Announces Trade Deal with Korea: Tariffs Cut to 15%, $350B Investment Agreed
U.S. President Donald Trump announced on July 30 (local time) that the United States and South Korea have reached a new trade agreement, reducing reciprocal tariffs from 25% to 15%.
In a post on his social media platform Truth Social, Trump stated that Korea had agreed to invest $350 billion (₩487 trillion) in the United States and that the two countries had reached a broader trade pact.
Key Points of the Deal
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Tariffs reduced: Reciprocal tariffs lowered from 25% to 15%
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Investment: Korea pledges $350 billion in U.S. investments, slightly below Washington’s initial request of $400 billion
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Energy purchases: Korea to import $100 billion worth of U.S. LNG and other energy products
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Market access: Korea agreed to fully open its markets for U.S. cars, trucks, and agricultural products
Future Bilateral Meeting
Trump added that the official announcement of Korea’s massive investment would take place during South Korean President Lee Jae-myung’s upcoming visit to the White House within two weeks, where the two leaders are expected to hold a bilateral summit.
Global Trade Context
The 15% tariff level matches the terms already granted to Japan and the European Union, both of which recently concluded similar agreements with the United States. Japan pledged $550 billion, while the EU promised $600 billion in U.S. investments as part of their deals.
CNN noted that it remains unclear whether the 15% tariff items for Korea will include sensitive categories such as automobiles and pharmaceuticals, as was the case for Japan and the EU.
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