The US reached a trade agreement with South Korea that will impose a 15% tariff on imports, including autos, and sets up major investment in American energy and shipbuilding.

The top diplomats of South Korea and the United States are set to hold talks in Washington on Thursday (U.S. time), following a tariff agreement between the two countries and the announcement of a planned summit between their leaders.

The United States has agreed a trade deal with South Korea that will subject South Korean imports to a 15% tariff rate, President Donald Trump said on Wednesday. South Korea will also invest $350 billion in the United States and purchase $100 billion in U.