Overview

• On August 1, the reciprocal tariff on South Korean goods fell from 25% to 15% under the newly implemented agreement.
• Seoul is bound to invest $350 billion in US industries over four years, including a $150 billion commitment to the Make American Shipbuilding Great Again fund.
• The deal requires South Korea to purchase $100 billion of US liquefied natural gas and other energy products by 2029.
• Uncertainty remains over who will control and select projects within the $350 billion investment fund.
• South Korea preserved existing rice and beef import protections despite President Trump’s assertion that markets would fully open.