South Korea, U.S. finalise trade deal, lower auto tariffs to 15%

AWANI

South Korea and the U.S. have finalised details of their long-delayed trade deal, reducing tariffs on Korean exports to 15% and confirming a USD350 bil investment package to strengthen bilateral economic ties.

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00:00Meanwhile, the U.S. President Donald Trump and South Korean President Lee Jae-myung have

00:05reached a final agreement on their long-delayed trade deal, lowering U.S. tariffs on South

00:09Korean exports to 15% from 25%.

00:13This agreement was sealed earlier today following bilateral talks between the two leaders on

00:18the sidelines of the APEC summit in Gyeongju.

00:23The latest deal clarifies outstanding details from a July framework agreement that initially

00:28reduced tariffs but left auto exports subject to a 25% rate.

00:33The new terms now align South Korea's auto tariffs with Japan's 15% rate, while semiconductor

00:39exports will face levies more favorable than those imposed on Taiwan.

00:44The agreement is seen as a major breakthrough after months of deadlock over investment terms

00:48and tariff structures.

00:50Seoul has also agreed to invest $350 billion in the U.S., including $150 billion through

00:56shipbuilding cooperation led by South Korean companies.

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