Trump to impose 15% tariff on South Korea, Washington to get $350 billion investments

On July 30, the US President Donald Trump announced that the US will impose a 25% tariff on goods from India, plus an additional import tax because of New Delhi's purchase of Russian oil

US President Donald Trump has announced a "full and complete" trade deal with South Korea ahead of the August 1 deadline. As part of the agreement, Trump stated that the United States will impose a 15% tariff on imports from South Korea.

In return, South Korea has pledged to invest $350 billion into the U.S. economy, with the investments reportedly to be overseen and directed by President Trump himself.

Additionally, South Korea has agreed to purchase $100 billion worth of liquefied natural gas (LNG) or other American energy products, along with committing to further significant investments across various sectors.

"I am pleased to announce that the United States of America has agreed to a Full and Complete Trade Deal with the Republic of Korea. The Deal is that South Korea will give to the United States $350 Billion Dollars for Investments owned and controlled by the United States, and selected by myself, as President," Trump posted on Truth Social.

He added, "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. 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."