Trump Announces Trade Deal With South Korea

President Trump announced a deal that imposes a 15% tariff on imports from South Korea, a move that averts a steeper 25% levy originally threatened by Washington. The agreement, unveiled two days before the August 1 deadline for countries to strike bilateral deals, is similar to those accepted by the EU and Japan. Most significantly for energy markets, South Korea committed to purchasing $100 billion worth of U.S. liquefied natural gas and other energy exports, a move hailed by Trump as a win for American workers and energy producers. Speaking…