Trade Deal: U.S. & South Korea
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Trade Deal: U.S. & South Korea
Posted on Aug 1
By: Brian Walczyk, Compliance Manager, TadeInsights, LCB, CCS
President Trump announced on July 30th that the U.S. and South Korea have arrived at a trade deal, via a Truth Social posting.
The deal sets the South Korea reciprocal rate at 15%, and notes that South Korea will be “completely OPEN TO TRADE with the United States.”
Recently elected President Lee Jae Myung will be making a trip to the White House for a bilateral meeting in the next two weeks, where additional details of the deal will likely be refined between the two longstanding trading partners.
We will continue to provide updates as they are made available. Please contact your V. Alexander account team, or you may also contact our Trade Compliance team at tradeinsights@valexander.com with any questions, and you can always follow us on our website www.valexander.com for updates on this and other topics.