The Fed will maintain stable fees amid Trump’s pressure and inflation risk
Despite President Donald Trump’s push for cuts from tariffs, the Fed only stayed at 4.25% to 4.5%.
WASHINGTON – President Donald Trump has said he has launched a trade deal with South Korea with 15% tariffs on US investment, liquefied natural gas purchases and imports.
He said in a social media post that the US will not be charged with corresponding tariffs by South Korea.
Trump announced the agreement on a true society and an August visit to the White House by South Korean leader Lee Jae Myung.
“The deal is that South Korea invested $300 billion in the United States and was elected president for an investment owned and controlled by the United States,” Trump wrote.
Trump said South Korea has pledged to buy $100 billion in LNG and other energy products from the US and to invest another “mass money” that will be revealed during Lee’s future visit.
“We also agree that South Korea is completely open to trade with the United States and accepts American products, including cars, trucks, agriculture and more,” Trump said.
Trump had threatened to impose a 25% tariff on South Korea in a letter to Lee in early July. It would have come into effect on August 1 without a trade agreement or reprieve.
In another post, Trump said he had reached an agreement with Pakistan. He said the state is in the process of selecting an oil company to lead the partnership.
