Trump says U.S. strikes trade deal with South Korea

President Trump said Wednesday the U.S. has struck a trade deal with South Korea, matching the structure of pacts with Japan and the European Union.Why it matters: The deal brings clarity to the U.S. relationship with a major trading partner, and will be a relief to automakers and other heavily exposed industries.What they're saying: Trump, in a Truth Social post, said South Korean imports would face a 15% tariff, while U.S. exports to the country would not be tariffed. South Korea will buy $100 billion in U.S. energy products, he said, and the deal includes a $350 billion investment fund.What to watch: With the South Korea deal addressed, attention in the last days before an Aug. 1 tariff deadline will shift to potential deals with top trade partners Canada and Mexico.Editor's note: This is a breaking news story. Please check back for updates.

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