Washington: U.S. President Donald Trump's administration has announced the implementation of a trade and investment agreement between South Korea and the United States. The agreement, which includes a reduced tariff rate of 15 percent on Korean automobiles, has been posted on the Federal Register and is retroactive to November 1.

According to Yonhap News Agency, the Office of the U.S. Trade Representative and the Department of Commerce made the document available to initiate certain tariff-related components of the U.S.-Korea Strategic Trade and Investment Deal. This move comes ahead of the document's official publication date, scheduled for Thursday.

The announcement follows the recent tabling of a special bill by South Korea's National Assembly on November 26. The bill aims to support Seoul's commitment to investing $350 billion in the United States, which is part of the broader trade agreement between the two nations.