A tariff of 15 percent will be introduced on South Korean goods imported to the USA, in addition, the country has agreed to other terms.
"South Korea will give the USA 350 billion dollars for investments", Trump writes on Truth Social where he also writes that it is he and only he "as president" who decides where the money will be invested. Trump adds that South Korea will also buy liquid natural gas or other energy products for 100 billion dollars from the USA.
In addition to this, South Korea, according to Trump, has agreed to invest another "large sum of money". It is not clear how large.
South Korea's new president Lee Jae-Myung will visit the White House within two weeks for bilateral talks, Trump announces. The meeting will be the first since Lee took office in June.
"We have overcome a major obstacle", Lee writes about the agreement on Facebook and notes that the American tariffs on South Korean goods are either lower than or equal to those introduced against the country's largest trading competitors.
