U.S. President Donald Trump stated that the United States and South Korea have reached a trade deal. He informed journalists of this during a handshake at an event, without providing further details. The American leader remarked that the agreement was reached during his attendance at a dinner hosted by South Korean President Moon Jae-in at the Asia-Pacific Economic Cooperation summit. As part of the deal, tariffs on Korean cars will be reduced to 15%, and investments of $150 billion will be allocated for shipbuilding, alongside a $200 billion cash commitment under investment pledges. The U.S. and South Korea finalized the trade deal on Wednesday after months of negotiations to iron out the details of a preliminary agreement signed in July.
