06:12 AM EDT, 07/31/2025 (MT Newswires) -- President Donald Trump said Wednesday that the US will levy a 15% tariff rate on imports from South Korea as part of a trade deal.

"South Korea will give to the [US] $350 billion for investments owned and controlled by the [US], and selected by myself," Trump said in a social media post. South Korea will also purchase $100 billion of LNG or other energy products, he said.

In a separate social media post, Trump said the US has finalized a deal with Pakistan to jointly develop the South Asian country's oil reserves. He said that a process to select the company that would lead the project was underway.