World


Trump announces trade deal with South Korea

Washington, July 31 (UNI) US President Donald Trump has announced a new trade agreement with South Korea — the latest in a series of deals unveiled ahead of his self-imposed August 1 deadline for imposing steep tariffs on multiple countries.
Under what Trump described as a “full and complete” deal, South Korean imports to the US will face a 15 percent tariff, while American exports to South Korea will remain duty-free. The announcement, made via his Truth Social platform on Wednesday, came amid a flurry of trade-related declarations, including fresh tariffs on Brazil and India.
Officials from both the United States and South Korea confirmed that the new 15 percent tariff would apply specifically to vehicles — a notable concession that marks a victory for South Korea’s automobile industry, which had previously faced a 25 percent tariff under the Trump administration.
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