South Korea has struck a last-minute trade deal with the U.S. on Wednesday as steep tariffs loomed ahead of a Friday deadline, President Trump announced. Under the deal, America would impose a 15% tariff and South Korea would provide $350 billion in investments. Seoul would also purchase $100 billion in liquified natural gas or other energy products…… Read more
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A rifle-toting man killed a police officer and three other people during a Monday evening shooting inside a Manhattan office building, police said, before the assailant turned the gun on himself. The gunman shot and killed his victims inside 345 Park Ave. in Midtown, a skyscraper that houses KPMG, Blackstone and the NFL’s headquarters, authorities said…… Read more
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Jeff Mordock | July 31, 2025
(The Washington Times) — South Korea has struck a last-minute trade deal with the U.S. on Wednesday as steep tariffs loomed ahead of a Friday deadline, President Trump announced.
Under the deal, America would impose a 15% tariff and South Korea would provide $350 billion in investments. Seoul would also purchase $100 billion in liquified natural gas or other energy products.
South Korea will also donate an unspecified amount of money in the U.S. for their own investment purposes, Mr. Trump said.
The deal also requires South Korea to be completely open to trade with the U.S., including accepting American products such as cars, trucks and agriculture.
In exchange, South Korea will be charged a 15% tariff for all goods it exports into the U.S., and America will not be charged a tariff, Mr. Trump said. It is one of the lowest tariffs Mr. Trump imposed on a nation since he announced his steep “Liberation Day” tariffs in April.
“I would like to thank the trade representatives who came forward today. It was an honor to meet them and talk about the great successes of their country,” Mr. Trump wrote of South Korea.
The undetermined sum that South Korea plans to invest in the U.S. for its own purposes will be announced within the next two weeks when South Korean President Lee Jae Myung comes to the White House for bilateral talks, Mr. Trump said.
Mr. Trump’s announcement came after three Cabinet-level South Korean officials met with U.S. Commerce Secretary Howard Lutnick in Washington for trade talks and to lobby for a deal on U.S. tariffs.
South Korean Finance Minister Koo Yun-cheoi joined Industry Minister Kim Jung-kwan and Minister for Trade Yeo Han-koo, all sitting down for two hours of talks with Mr. Lutnick, the Finance Ministry said in a statement.
South Korea has been lobbying the Trump administration since last week to reach a deal before Friday, when 25% tariffs were set to kick in. Pressure had been mounting on South Korea to reach a trade deal since Japan cut a deal that reduced Mr. Trump’s threatened tariffs to 15% earlier this month.
The administration’s deals with Japan and South Korea are very similar. In addition to the same tariff rate, Japan pledged $550 billion in U.S. investments.
South Korea is a major U.S. ally and one of the top exporters of computer chips, cars and steel.
Mr. Lutnick reportedly urged South Korea to bring their best and final offers to the table during their meeting, according to a report in the Wall Street Journal.
President Trump on Tuesday bemoaned the victims of a mass shooting at a ritzy Manhattan skyscraper and praised the slain NYPD officer who made “the ultimate sacrifice.” In a Truth Social post, Mr. Trump said he was briefed on the shooting of Monday evening at 345 Park Ave…… Continue Reading
China’s unexpected advances in artificial intelligence in recent months have top U.S. researchers baffled. DeepSeek, seen as a cost-effective AI breakthrough for China, was a wake-up call for U.S. industry technologists, but many appear to have hit the snooze button…… Continue Reading
A rifle-toting man killed a police officer and three other people during a Monday evening shooting inside a Manhattan office building, police said, before the assailant turned the gun on himself. The gunman shot and killed his victims inside 345 Park Ave. in Midtown, a skyscraper that houses KPMG, Blackstone and the NFL’s headquarters, authorities said…… Continue Reading
A federal investigation has found five Northern Virginia school districts in violation of Title IX for allowing “transgender-identifying” students to use restrooms and locker rooms based on gender identity versus biological sex…… Continue Reading
President Trump has called out former President Barack Obama for “treason” for “trying to lead a coup” during the 2016 and 2020 election cycles — accusations the former White House chief, through a spokesman, denied. Director of National Intelligence Tulsi Gabbard nonetheless said she has the goods, not just on Obama, but on Obama-time players…… Continue Reading
The Justice Department opened a new front in its legal war on sanctuary jurisdictions Thursday, filing a lawsuit seeking to shut down New York City’s policies that protect illegal immigrants from the reach of federal deportation authorities…… Continue Reading
President Trump’s “massive deal” with Japan gives the White House a strong head of steam as it nears a pivotal Aug. 1 deadline to reset trade relations with global partners. The White House said Wednesday that the deal, which includes $550 billion in Japanese investment in the U.S., counters naysayers who said tariffs amounted to a clunky tool…… Continue Reading
Candy and snack giant Hershey Co. is increasing the prices of its products due to issues with the cocoa supply. A Hershey spokesperson told The Washington Times that 75% of the company’s candy will still cost less than $4 for consumers. The Wall Street Journal reported that retail customers will see a 13% to 20% price increase…… Continue Reading
President Trump has positioned himself as a tough trade negotiator, peacemaker and champion for U.S. workers during the first six months of his second term. Connecting all of them are the precious metals, minerals and other valuables that can be extracted from the earth…… Continue Reading