General Motors is a big beneficiary of lower import tariffs on South Korea. The U.S. auto maker builds cars there.

U.S. President Donald Trump announced Wednesday that the United States will impose a 15% tariff on South Korean goods in a deal made just ahead of an Aug. 1 deadline.

President Donald Trump said on Wednesday the U.S. will charge a 15% tariff on imports from South Korea, down from a threatened 25%, as part of a deal that eases tensions with a top-10 trading partner and key Asian ally.