Tariff cushion: A container ship under construction in the south of Busan. Tariff risks remains for some of the country’s key exports, including computer chips, batteries, and pharmaceuticals. — AFP
SEOUL: The United States has reached a trade agreement with South Korea that will impose a 15% tariff on imports, including autos, and set up major investment in American energy and shipbuilding.
The agreement, announced by President Donald Trump and confirmed by officials in Seoul, brings one of the world’s biggest exporters into the United States’ emerging trade framework and spares a major supplier of cars, smartphones, and machinery from a 25% rate just a day before the deadline.
