US President Donald Trump has announced a new trade deal setting 15 percent import duty on South Korea.
The new deal comes just two days ahead of a deadline that Trump set for the United States' trading partners to agree on new deals. In the absence of a trade agreement, the Trump administration was planning to impose a 25 percent tariff on South Korea.
"The Deal is that South Korea will give to the United States $350 Billion for Investments owned and controlled by the United States, and selected by myself," Trump wrote on his social media platform Truth Social on Wednesday.
For comments and feedback contact: editorial@rttnews.com
Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.