Washington, 31 July 2025 (dpa/MIA) - US President Donald Trump on Wednesday announced a trade deal with South Korea.

"We have agreed to a Tariff for South Korea of 15%. America will not be charged a Tariff," Trump said on his platform Truth Social, having previously threatened to impose tariffs of 25% on imports of South Korean products from August 1.

US Commerce Secretary Howard Lutnick said the tariff rate would also apply to car imports.

Trump said that South Korea would also "give to the United States $350 Billion Dollars for Investments owned and controlled by the United States, and selected by myself, as President."

Seoul also agreed to buy liquefied natural gas (LNG) or other energy products worth $100 billion and accept American products such as cars and agricultural products, the US president said.

South Korea is an important car exporter to the US.

"We have cleared a major hurdle," South Korean President Lee Jae Myung said, according to news agency Yonhap. "Through this agreement, the government has eliminated uncertainties in the export environment and created conditions for our companies to compete on equal or superior terms with major countries."

Photo: EPA archive