Trump says US will impose 15% tariff on South Korean imports

Washington/Seoul: President Donald Trump said on Wednesday the United States would charge a 15% tariff on imports from South Korea as part of an agreement with the Asian trading partner that avoids even higher levies.

"I am pleased to announce that the United States of America has agreed to a Full and Complete Trade Deal with the Republic of Korea," Trump said on Truth Social.

The South Korean government could not immediately be reached for comment. Reuters has not verified the terms of a deal.

As part of the arrangement, South Korea would invest $350 billion in the United States in projects selected by Trump and purchase $100 billion of liquefied natural gas and other energy products, the US president said.

It was not immediately clear how the investment deals would be structured or over what time frame. Trump said additional investments would be announced later.

South Korean President Lee Jae Myung will visit the White House "within the next two weeks" for a meeting with Trump, the U.S. president added.

Trump also said South Korea would accept American products, including cars, trucks and agriculture into its markets and impose no import duties on them.