The US reached a trade agreement with South Korea that will impose a 15% tariff on imports, including autos, and sets up major investment in American energy and shipbuilding. The agreement, announced by President Donald Trump and confirmed by officials in Seoul, brings one of the world’s biggest exporters from a 25% rate just a day before the deadline. The agreement includes a $350 billion South Korean fund for US investments.
President Donald Trump also said he would impose a tariff of at least 25% on India’s exports to the US starting Friday, though later added that the two sides were still in talks.
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