Trump Announces Trade Deal with South Korea, Imposes New Tariffs on Multiple Countries

President TRUMP unveiled a new trade agreement with South Korea, featuring a 15% tariff rate on imports from the country while exempting U.S. exports. The deal includes provisions for South Korea to open its markets to American products, including automobiles, agriculture, and energy goods. Additionally, South Korea committed to a $350 billion investment in the U.S. and increased purchases of liquefied natural gas.

In a broader MOVE on trade policy, Trump threatened a 25% tariff on Indian goods, citing the country's high tariffs on U.S. products and its ties with Russia. He also imposed a 50% tariff on Brazilian imports and announced a 50% duty on semi-finished copper products, effective August 1. The administration further eliminated the de minimis exemption, expanding tariffs to low-value imports.