U.S. President Donald Trump (Photo source: EPA/Yonhap News Agency file photo)
WASHINGTON, July 30 (Korea Bizwire) — U.S. President Donald Trump announced a tentative trade agreement with South Korea on Tuesday, stating that the United States will lower its reciprocal tariff rate on Korean goods from 25% to 15% in exchange for a $350 billion investment package from Seoul.
In a post on Truth Social following a meeting with a South Korean trade delegation at the White House, Trump declared that the two countries had reached a “comprehensive and complete trade agreement.”
As part of the deal, Trump claimed that South Korea had agreed to provide $350 billion to the U.S. for investments “owned and controlled by the United States and selected by me, the President.”
He also said Seoul would commit to an additional $100 billion in purchases of U.S. liquefied natural gas (LNG) and other energy products, as well as invest “large sums of money for its own investment purposes” in the United States.
Trump noted that the full details of the agreement would be announced in two weeks when South Korean President Lee Jae-myung visits Washington for a bilateral summit.
According to Trump, South Korea has also pledged to fully open its market to U.S. goods, including automobiles, trucks, and agricultural products. “We have agreed on a 15% tariff for Korea,” he stated. “The U.S. will not be subject to tariffs.”
Previously, Trump had threatened to impose a 25% reciprocal tariff on Korean imports starting August 1 unless Seoul agreed to new terms. In recent weeks, the South Korean government has been negotiating to reduce tariffs on key exports such as automobiles and steel.
Trump’s statement did not mention whether tariffs on specific Korean export sectors—such as cars or steel—would be revised under the new arrangement.
The announcement signals Trump’s continued emphasis on transactional trade deals tied to direct investment and energy purchases, and comes amid speculation about his potential return to the White House in 2025. South Korean officials have yet to confirm the agreement publicly.
M. H. Lee (mhlee@koreabizwire.com)
