South Korea also faces 15% tariff, while US will not have to pay any tariff
Washington: US President Donald Trump has announced a full and comprehensive trade agreement with South Korea, under which South Korea will invest $ 350 billion in the United States.
The full control and election of this investment will be with the US government under President Trump.
President Trump said in his statement on Truth Social that South Korea will also release more investment details in the coming weeks.
In this regard, South Korean President Li Jay Meong will visit the White House within two weeks, where regular bilateral meetings are expected.
Under the deal, South Korea will buy $ 100 billion worth of LNG or other energy products from the United States.
In addition, South Korea has also agreed to fully open its market for US products, including vehicles, agricultural commodities and other trading items.
President Trump further announced that under the deal, South Korea would impose 15 % tariffs, while the United States would not have to pay any tariffs.
He said the agreement was a commercial historic achievement for both countries.
In his statement, President Trump also congratulated South Korea’s newly elected President Li Jay Meong on the election victory and said that his country’s development was commendable. He called the meeting with the Korean trade delegation dignified and fruitful.
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