<h2 class="topline-heading">Topline</h2><p>The U.S. and South Korea agreed to a trade deal Wednesday that will enforce a 15% tariff rate on the U.S. ally that is one of the country’s top trade partners, President Donald Trump said, striking the agreement ahead of an Aug. 1 deadline Trump has set for trading partners worldwide to agree to tariff deals. </p><figure class="embed-base image-embed embed-0" role="presentation"><div class="image-embed__placeholder"><img src="https://specials-images.forbesimg.com/imageserve/688aa986d857c14ea8ca2c65/US-POLITICS-TRUMP/960x0.jpg?cropX1=0&amp;cropX2=1992&amp;cropY1=0&amp;cropY2=1328" alt="US-POLITICS-TRUMP" width="100%" height="auto"></div><div style="--article-bg-color:#faf3f1"><div class="bMqrj"><div class="Jp--BF7-"><span style="-webkit-line-clamp:2" class="Ccg9Ib-7 _8XF2kHYM">Trump announced the deal Wednesday evening. (Photo by JIM WATSON/AFP via Getty Images) </span></div><small class="pGGCM2aD">AFP via Getty Images</small></div></div></figure>

<div class="key-facts-element"><p>Trump said South Korea agreed to a tariff of 15% and that the U.S. would not receive any tariffs in response.</p></div>

<em>This is a developing story. Check back for updates.</em>

The Trump administration has reached similar trade deals with the United Kingdom, Japan and the Philippines ahead of Trump’s Aug. 1 deadline.{ai:summary}<p>The U.S. and South Korea have reached a trade agreement that imposes a 15% tariff on South Korean goods, as announced by President Trump. This deal was finalized ahead of an August 1 deadline for tariff agreements with global trading partners. </p><p>Trump stated that the U.S. will not face any retaliatory tariffs from South Korea.  #economy</p>

U.S. Reaches 15% Tariff Deal With South Korea, Trump Says

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