South Korea Trades $150 Billion Shipbuilding Deal for Lower Trump Tariffs

South Korea and the United States announced a $150 billion shipbuilding and industrial cooperation deal, through which Seoul agreed to build vessels for the U.S. Navy and commercial fleet in exchange for tariff relief on Korean exports. The deal lowered U.S. tariffs on South Korean goods from 25 percent to 10 percent. Analysts described it as the Trump administration model for transactional bilateral trade deals.