India, July 31 -- US President Donald Trump has announced a new trade deal setting 15 percent import duty on South Korea.
The new deal comes just two days ahead of a deadline that Trump set for the United States' trading partners to agree on new deals. In the absence of a trade agreement, the Trump administration was planning to impose a 25 percent tariff on South Korea.
"The Deal is that South Korea will give to the United States $350 Billion for Investments owned and controlled by the United States, and selected by myself," Trump wrote on his social media platform Truth Social on Wednesday.
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