This deal would mean the duties will be lowered from the 25% that Trump had threatened in his "tariff letter" to Seoul earlier this month. South Korea will "give to the United States $350 Billion Dollars for Investments owned and controlled by the United States,

The agreement comes after other American allies, like Japan, clinched their own deals to partly moderate President Trump’s tariff threats.

U.S. President Donald Trump will meet South Korea's trade delegation, South Korea's presidential office said on Thursday, as top officials from Seoul are in Washington to cut a last-minute deal on U.S.