President Donald Trump announced a new trade deal with South Korea, which calls for 15% tariffs on goods from there.

The agreement comes just a day before a 1 August deadline for countries to strike deals with the US or be hit with higher tariffs.

P resident Donald Trump on Wednesday announced he would set a 15% tariff on imports from South Korea, a lower threshold than he had been threatening earlier as part of a trade deal that includes a pledge by Korea to invest $350 billion in the U.S.