Source: United Press International
“U.S. President Donald Trump announced Wednesday that the United States will impose a 15% tariff on South Korean goods in what he called a ‘full and complete trade deal’ between the two countries ahead of an Aug. 1 deadline for negotiations. … The 15% tariffs will apply to South Korea’s automobile industry — its largest export sector to the United States — U.S. Commerce Secretary Howard Lutnick wrote in a post on X. … The major South Korean exports of steel and aluminum will remain at the global rate of 50% that Trump has set, however.” [editor’s note: Prior to Trump’s trade war idiocy, the effective tariff rate on American buyers of goods from South Korea varied by good … below 3% – TLK] (07/31/25)