The United States and South Korea have finalized a trade agreement keeping a 15% tariff on most South Korean imports, including cars, auto parts, timber, and lumber, according to a White House fact sheet. The deal also caps future tariffs on pharmaceuticals at 15% and aligns semiconductor tariffs with comparable trading partners, while removing certain tariffs on generic drugs and critical natural resources. Section 232 investigations into these sectors are ongoing.
See the full fact sheet here.