Washington, July 31 -- US President Donald Trump has announced a new trade agreement with South Korea - the latest in a series of deals unveiled ahead of his self-imposed August 1 deadline for imposing steep tariffs on multiple countries.
Under what Trump described as a "full and complete" deal, South Korean imports to the US will face a 15 percent tariff, while American exports to South Korea will remain duty-free. The announcement, made via his Truth Social platform on Wednesday, came amid a flurry of trade-related declarations, including fresh tariffs on Brazil and India.
Officials from both the United States and South Korea confirmed that the new 15 percent tariff would apply specifically to vehicles - a notable concession that marks a...