On the 30th (local time), Howard Lutnick, the U.S. Secretary of Commerce, revealed the details of the trade negotiations with Korea.
Secretary Lutnick noted that after President Donald Trump announced the conclusion of the trade negotiations with Korea, he posted on social media platform X (formerly Twitter) that "Korea will provide $350 billion to the U.S. to invest as directed by President Trump, and 90% of that revenue will go to the American people." This is the same ratio applied in the agreement with Japan.
Secretary Lutnick stated, "Korea also agreed to purchase $100 billion worth of liquefied natural gas (LNG) and other energy products from the U.S. over the next three and a half years," and mentioned that when President Lee Jae-myung visits the White House to meet with President Trump, Korean corporations will announce large-scale investments in the U.S.
He explained that the tariffs on automobiles for Korea will be set at 15%, just like mutual tariffs. The automobile tariff has been set at 25% since April 3rd. The Korean delegation aimed to lower it to 12%, but ended up reducing it by only 10 percentage points to 15%.
Secretary Lutnick stated that regarding the tariffs the U.S. government is pursuing on semiconductors and pharmaceuticals, "Korea will not be treated worse than any other country in terms of semiconductors and pharmaceuticals." He added that tariffs on steel, aluminum, and copper "are not included in the agreement and remain unchanged."