Trump announces tariff deal with South Korea — U.S.’s 6th-biggest trading partner

President Trump announced Wednesday he has struck a trade deal with South Korea, imposing a 15% tariff on goods from the country.

Mr. Trump wrote on Truth Social that South Korean goods will face a 15% tariff — lower than the 25% he threatened earlier this month — while U.S. imports to South Korea will not face tariffs. He said South Korea will be “OPEN TO TRADE” and will accept U.S. automobiles.

South Korea appears to be the latest key U.S. trading partner to reach an agreement with the Trump administration, ahead of a Friday deadline when Mr. Trump says he’ll impose hefty tariffs on dozens of countries.

The South Korean government has not publicly confirmed the deal.

The president announced a deal with Japan last week and a deal with the 27-nation European Union on Sunday. Deals are still outstanding with the U.S.’s three largest single trading partners: Canada, Mexico and China.

In addition to the 15% tariff, Mr. Trump said South Korea agreed to “give to the United States $350 Billion Dollars for Investments owned and controlled by the United States, and selected by myself.” South Korea will also buy $100 million dollars’ worth of liquified natural gas or other energy products, and will “invest a large sum of money for their investment purposes,” the president said.

South Korea was the U.S.’s sixth-largest trading partner last year, not including multi-country blocs like the European Union, according to Census Bureau data. The U.S. imported $131.5 billion worth of South Korean goods, and South Korea bought $65.5 billion in American goods.

This is a breaking story; it will be updated.