WASHINGTON: US President Donald Trump said Wednesday (Jul 31) that the United States will impose a 15 per cent tariff on imports from South Korea, as he touted a "full and complete trade deal" between both countries.

"South Korea will give to the United States US$350 billion for investments," Trump said in a post on his Truth Social platform, adding that the country would buy US$100 billion in liquefied natural gas or other energy products.

"It is also agreed that South Korea will be completely open to trade with the United States, and that they will accept American product including Cars and Trucks, Agriculture, etc," Trump added.

The 15 per cent rate is below a 25 per cent rate that Trump had threatened earlier.