Overview

• South Korea has committed $350 billion to U.S. industries, including $150 billion for a shipbuilding cooperation initiative.
• The United States will impose a 15 percent tariff on Korean imports, averting a threatened 25 percent levy after the August 1 deadline.
• Seoul will purchase $100 billion of American liquefied natural gas and other energy products under the deal.
• The agreement preserves South Korea’s existing protections for rice and beef markets and precludes further openings.
• Presidents Trump and Lee Jae-myung are set to meet this week to finalize the framework following a late-July breakthrough.