Trump secures deal for 15% tariff on South Korean imports
The U.S. will impose a 15% tariff on imports from South Korea under a new trade deal that also includes a $350bn (about £264bn) South Korean investme...
The Trump administration has granted Syria a temporary waiver from key U.S. sanctions and loosened business restrictions, marking the first formal step in a broader plan to dismantle decades-old penalties.
The United States has waived a major set of congressional sanctions on Syria and expanded rules for foreign business operations in the country as part of President Donald Trump's pledge to roll back longstanding economic restrictions.
The waiver, announced Friday by the State and Treasury departments, lifts elements of a tough sanctions package imposed in 2019. It is intended to support Syria's interim leadership, now headed by Ahmad al-Sharaa, a former militant figure who assumed power following the ouster of Bashar al-Assad last year.
While the administration did not specify how long the waiver will last, U.S. law restricts such presidential actions to a maximum of six months.
Treasury Secretary Scott Bessent said the decision is designed to open the door to new foreign investment and support Syria's recovery. He said Syria must continue to work toward becoming a stable country at peace and that the actions will hopefully put the country on a path to a bright, prosperous, and stable future.
Officials say the sanctions relief forms part of a broader U.S. effort to dismantle the legal framework of penalties imposed over the Assad regime’s alleged chemical weapons use, support for Iranian militias, and human rights abuses.
While the president can lift executive-level sanctions unilaterally, the most severe restrictions imposed by Congress require formal legislative repeal or renewal. The debate inside the administration continues over whether Syria should be required to meet strict democratic or security benchmarks before more permanent relief is granted.
Some officials advocate for a phased approach tying long-term sanction removal to verifiable reforms. Others argue for more immediate relief to avoid stalling Syria’s fragile reconstruction efforts.
The U.S. and its allies hope the new government under al-Sharaa will bring stability to a country devastated by 13 years of civil war, a collapsed economy, and the presence of foreign fighters.
The administration said this is just one part of a broader U.S. government effort to remove the full architecture of sanctions imposed on Syria because of abuses by the Bashar al-Assad regime.
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