Trump announces trade deal with South Korea, setting tariffs at 15%

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The trade deal sets a 15% blanket tariff on Korean exports to the U.S., down from a previously threatened 25%. It includes South Korea committing $350 billion in U.S.-controlled investments, which Seoul says will support Korean companies entering key U.S. industries such as shipbuilding and semiconductors. Trump also announced that Seoul will buy $100 billion in U.S. energy products. Disagreements remain over how the investment profits will be distributed, CNBC has reported. U.S. goods will face no tariffs, and existing tariffs on Korean steel, aluminum, and copper exports remain unchanged.