US President Donald Trump said on Wednesday that Washington would slap 15% TAOF coming from South Korea to the country, he had earlier threatened the rate lower than 25% of the duty.
The new Levy consists of South Korea with other American trade partners such as Japan and the European Union, which has set a 15% tariff rate for its exports to the US. The new rate applies to old South Korean motor vehicle exports.
Trump described it as a “full and full trade deal” between the US and South Korea.
He said that he had so agreed to buy $ 100 billion (€ 87.5 billion) of US energy products, including liquidized natural gas (LNG).
“South Korea will give $ 350 billion to the United States for investment,” Trump said in a post on his true social platform. He said that additional unspecified “large amount of money” wants to invest in America by Seoul.
Will South Korea open its rice, beef market?
It was not immediately clear how the investment deal would be structured, where or on which time the financial time will come.
Trump said additional South Korean investment would be announced later.
He said that the East Asian nation would open its markets to American products, including cars, trucks and agricultural goods, and there would be no import duty on them.
Kim Yong-Bame, the policy head of the South Korean presidential office, told a briefing in Seoul that the country’s rice and beef markets would not be opened for sensitivity to regions in the US.
Trump said on Wednesday that South Korean President Lee J. Mayung would visit the White House “within the next two weeks” for bilateral talks.
This meeting wants to become his first St. Lee Planet Office in June.
What is the reaction in South Korea?
After Trump’s tariff declaration, Lee said South Korea would be placed on an uniform or better rank than other trading partners by the agreement.
According to news agency Yonhap, Lee said, “We have approved a major obstacle.” “Through this deal, the government has eliminated unwanted unwanted situations and ensured that American tapifies on our exports are less or less than those imposed on our major business contestants.”
The South Korea’s opposition Peepal Power Party (PPP), however, criticized the agreement.
It said that Lee’s administration had participated with Washington to make a tariff deal and a lot of concessions were given.
PPP interim leader Song Ein-Second asked the government to clarify whether any other business sector would be open to the US.
Brazil hit with tafs, but excluded major areas
Mauhill, Trump on Wednesday imposed a 50% tariff on most of Brazil’s imports, in which he cited “witch hunting” against his ideological colleague and former President Zaier Bolsonro.
However, Trump was given some discovery as fertilizers from the aircraft and parts, aluminum, tin, wood pulp, energy products and fertilizers.
“We are not facing the worst situation,” Brazilian Treasury Secretary Rogerio Seron told reporters. “This is a more gentle result as it could have been.”
Brazil said it is ready to interact with the US on business, but it would not leave the equipment to defend itself under the national law.
In a statement signed by President Luiz Eneasio Lula Da Silva, the Brazilian government used “the logic of politics” to protect the tariff declared by the US against Brazil, “Brazil” inappropriate “.
Brazil is one of the few major economies with which America runs a trade surplus.
Last year, the US surplus was an amount of $ 6.8 billion on a total trade volume of $ 91.5 billion, showing the US Census Bureau figures.
Edited by: Wesley Rahan
