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South Korea, US finalize trade deal with 15 percent baseline tariff

By Wooyoung Lee ( July 31, 2025, 07:04 GMT | Insight) -- South Korea and the US have reached a trade agreement under which tariffs on South Korean exports to the US will drop from 25 percent to 15 percent. This includes tariffs on automobiles and auto parts, brining South Korea in line with the rates secured by Japan and the European Union. The deal includes a commitment to invest $350 billion in the US, specifically in key industries such as shipbuilding, semiconductors, batteries, biotech and energy. South Korea and the US have reached a trade agreement that sets a 15 percent baseline tariff on South Korean exports to the US, just one day before the Aug. 1 deadline, after which the previously suspended 25 percent tariff would take effect....

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