Washington [US], July 31: US President Donald Trump announced on July 30 that he would impose a 15% tax on imports from South Korea.
"I am pleased to announce that the United States has agreed to a full and comprehensive trade deal with South Korea. Under this agreement, South Korea will invest $350 billion in the United States. The investments will be personally selected by me. Additionally, South Korea will purchase $100 billion in liquefied natural gas or other energy products," Trump wrote on the social network Truth Social on July 30.
The US President also announced a 15% tariff on goods imported from South Korea, while US goods exported to South Korea are not subject to tariffs.
Following Mr. Trump's announcement, Reuters reported on July 31 that South Korean President Lee Jae Myung said the tariff agreement with the US puts South Korea on equal or better footing than other countries.
Mr. Lee also said that South Korea has agreed to set up a $350 billion investment fund, of which $150 billion will be for shipbuilding projects.
In an announcement on Truth Social, the US president added that his South Korean counterpart Lee Jae Myung will visit the White House in two weeks.
Previously, Mr. Trump announced a 25% reciprocal tariff on South Korea in April. The US-South Korea trade agreement was recently announced by the leaders of the two countries, after a South Korean delegation traveled to Washington DC to negotiate with US officials.
Also on July 30, Mr. Trump said negotiations with China on a tariff agreement were "going well" and the two sides would reach a fair trade agreement, although he did not mention details.
In the latest information related to tariffs between the US and its partners, President Trump announced on July 30 that he would impose a 25% tax on India.
On July 30, Mr. Trump said he would impose a 50% tariff on most goods imported from Brazil, except for industries such as aircraft, energy and orange juice. The White House owner said this was a move to counter the " witch hunt " in Brazil targeting the country's former President Jair Bolsonaro. The tariffs on Brazil will take effect on August 6, according to AFP.
The Brazilian government said the country still wants to negotiate trade with the United States, and will assess the impact of tariffs to take measures to protect workers.
Source: Thanh Nien Newspaper