U.S. Reaches Tariff-Lowering Trade Deal With South Korea

Topline

The U.S. and South Korea agreed to a trade deal Wednesday following months of negotiations that will lower tariffs placed against the longtime Asian ally in exchange for hundreds of billions of dollars in investments toward the U.S.

The tariff rate imposed on South Korean goods will be set at 15% following the agreement, as will the rate on automobiles, which previously had 25% tariffs attached to them.