President Donald Trump on Wednesday announced a trade deal with South Korea. The deal includes a 15% tariff on goods made in South Korea. Trump had previously placed a 25% tariff on South Korean goods.

The United States has agreed a trade deal with South Korea that will subject South Korean imports to a 15% tariff rate, President Donald Trump said on Wednesday. South Korea will also invest $350 billion in the United States and purchase $100 billion in U.

The US trade deal with South Korea features a similar investment that was pledged by Japan in a successful bid to lower its threatened tariffs.