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U.S. President Donald Trump speaks during an event at the White House on July 30. / AP-Yonhap

U.S. President Donald Trump announced on July 30 that Washington and Seoul have reached a trade agreement imposing a 15% tariff on South Korean goods, and confirmed that President Lee Jae-myung will visit the White House within two weeks.

Speaking after meeting South Korea’s trade delegation—including Deputy Prime Minister and Finance Minister Koo Yoon-cheol, Trade Minister Kim Jung-kwan, and Trade Negotiations Chief Yeo Han-koo—Trump wrote on Truth Social: "The United States has reached a full and comprehensive trade agreement with South Korea. We agreed on a 15% tariff rate on Korean imports."

The 15% reciprocal tariff is 10 percentage points lower than the 25% rate Trump had threatened in April, aligning with the tariff rates imposed on Japan and the European Union.

Trump said South Korea agreed to invest $350 billion in U.S.-owned and controlled projects selected by him, purchase $100 billion worth of liquefied natural gas (LNG) and other energy products, and commit additional large-scale investment funds.

He added that the figures would be formally announced during President Lee’s upcoming bilateral summit at the White House, congratulating Lee on his election victory.

Trump stated that South Korea will "fully open its market to U.S. trade, accept U.S. products such as cars, trucks, and agricultural goods without imposing tariffs."

Notably, Trump’s announcement did not address tariffs on key South Korean exports such as automobiles and steel. Given that Japan and the EU secured reductions in auto tariffs from 25% to 15%, analysts expect similar adjustments for Korean autos to be discussed in follow-up negotiations.