First Trust South Korea AlphaDEX Fund

FKO

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South Korea has a higher chance of reaching a trade deal with the U.S. by the time of the Asia-Pacific Economic Cooperation (APEC) summit in South Korea later this month, the country's chief policy advisor said on Sunday.

U.S. Secretary of Commerce Howard Lutnick discusses where trade negotiations stand with South Korea.

'The Big Money Show' previews President Donald Trump's meeting with South Korean President Lee Jae-myung as they discuss a potential deal and analyze market reaction. #foxbusiness #usnews #southkorea #tradedeal

South Korea's exports rose for the second straight month in July, beating market expectations on strong chip demand and shipments being moved forward ahead of higher U.S. tariffs, which are expected to weigh in the second half of the year.

General Motors is a big beneficiary of lower import tariffs on South Korea. The U.S. auto maker builds cars there.

This is a developing story. Check back for updates.

Trump announces trade deal with South Korea, setting tariffs at 15%

The agreement comes after other American allies, like Japan, clinched their own deals to partly moderate President Trump's tariff threats.

“I am pleased to announce that the United States of America has agreed to a Full and Complete Trade Deal with the Republic of Korea,” Trump, 79, wrote on Truth Social.

President Donald Trump said on Wednesday the United States would charge a 15% tariff on imports from South Korea as part of an agreement with the Asian trading partner that avoids even higher levies.