Lutnick Says Chip Tariffs Not Part of Korea-US Trade Deal; Korea Agrees to Open Markets '100%'

U.S., South Korea Strike Major Trade and Investment Deal

South Korea and the United States unveiled detailed terms of a new trade and investment deal on Thursday, outlining tariff reductions, major energy purchases, and long-term investment commitments designed to deepen economic cooperation. The announcement followed talks between senior officials, including South Korea’s chief policy adviser Kim Yong-beom and U.S. Commerce Secretary Howard Lutnick, and […] The post U.S., South Korea Strike Major Tra…

Lutnick says chip tariffs not part of Korea-US trade deal; Korea agrees to open markets '100%'

U.S. Commerce Secretary Howard Lutnick said Thursday that semiconductor tariffs are not part of a trade deal with Korea, and the Asian country has agreed to "fully" open its markets "100 percent." In a social media post, Lutnick enumerated details of the trade deal, indicating some differences from what the Korean government explained after the two countries finalized the specifics of Seoul's $350 billion investment pledge under the deal during …

US Commerce Secretary Lutnick: Semiconductor tariffs are not part of the US-South Korea deal

US Commerce Secretary Howard Lutnick was out with some trade-related comments in the last hour, saying that semiconductor tariffs are not part of the U.S.-South Korea deal. Lutnick also announces South Korea $200M investment in Alaska’s natural gas project.