1. Home
  2. News
  3. South Korea agrees to 15 % reciprocal tariffs in exchange for USD 350 bln U.S. investment

2025 July 31   18:00

South Korea agrees to 15 % reciprocal tariffs in exchange for USD 350 bln U.S. investment

Bilateral tariff negotiations between the Republic of Korea and the United States have been concluded, according to Korea.net.

Korea agreed to create a USD 350 billion investment fund in the United States in return for a reduction of the reciprocal tariff rate from 25 % to 15 %.

The Presidential Chief of Staff for Policy, Kim Yong‑beom, stated on July 31 at the Office of the President: “The reciprocal tariff that the U.S. said it would impose from Aug. 21 will be lowered from 25 % to 15 %,” adding, “The tariff on cars, Korea’s leading export item, has also been reduced to 15 %.”

He added: “Tariffs on items such as semiconductors and pharmaceuticals to be announced later will also be treated no less favorably than those of other countries,” and that “Korea will receive most favored nation status.”

He further ruled out further openings of Korean rice and beef markets.

On the USD 350 billion fund, he said: “The Korea‑U.S. shipbuilding cooperation fund of USD 150 billion will span the entire shipbuilding ecosystem including construction, MRO (maintenance, repair and operation), and equipment.”

Topics:

Latest news

2025 August 22

2025 August 21

Mon Tue Wed Thu Fri Sat Sun
1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31