South Korean manufacturers are also relieved that Washington will be slapping tariffs of 15 percent, not 25 percent, on industrial imports, notably

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.

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.