Trump reaches a comprehensive trade agreement with South Korea
“The Big Money Show” speaks as President Donald Trump secures deals with the European Union.
President Trump announced Wednesday that the US and South Korea have reached a comprehensive trade agreement. Selected by Trump.
Korea agreed to be “completely open” Trade with the UScurrently faces a 15% reduction in tariffs on imported goods. It was down from the planned 25%, and came into effect on August 1st, Trump said.
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“We are pleased to announce that the United States has agreed to a full and complete trade agreement. South Korea“Trump said on Wednesday in the Truth Social Post: “The fact that South Korea gave the US $350 billion for investments owned and controlled by the US and was chosen for its own president.”
On July 27, 2025, US President Donald Trump of Turnberry, Scotland. (Photos by Evelyn Hockstein/Reuters/Reuters)
As part of the deal, the US president said South Korea will also purchase $100 billion worth of liquefied natural gas (LNG) or other energy products.
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“In addition, South Korea will buy $100 billion in LNG. Other Energy Products Furthermore, South Korea has agreed to invest a large amount of money for investment purposes. Trump said.
Newly elected South Korean President Lee Jae-myeon will speak at a press conference at the presidential office held in Seoul, South Korea on June 4th, 2025. (Ahn Young-Joon / Getty Images / Getty Images)
In The Truth Social Post, Trump congratulated South Korean President Lee Jae-Myung on winning the recent election. South Korean voters left the presidential election last month, and conservative candidate Kim Moon Thor admitted defeat to liberal opposition Lee in the snap election.
“I would also like to congratulate the new president on the successful election, and I also agree that South Korea will be fully open to trade with the United States and accept American products, including cars, trucks, agriculture and more,” Trump said. “…I would like to thank the trade representatives who have made progress today. It was an honor to meet them and talk about the great success of their country!”
Secretary of State Marco Rubio will chat on July 25, 2025 as he arrives to shaking hands for the photographer with Pakistan’s Deputy Prime Minister and Foreign Minister Ishak Dal at the State Department in Washington, DC. (Reuters/Reuters Photos)
The announcement comes hours after Trump announced it It’s the United States The trade agreement with Pakistan has been reached, as the two countries will cooperate to develop the country’s oil reserves in South Asia.
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Earlier this month, Trump announced that the US would impose a 25% tariff on goods imported from Japan and South Korea.
The White House did not immediately respond to Fox Business’s request for comment.