The presidential office says the United States has agreed to lower not only its reciprocal tariff but also its tariff on South Korean automobiles to 15 percent.

Presidential chief of staff for policy Kim Yong-beom revealed the information on Thursday during a news briefing on the trade deal.

Kim said the 25 percent reciprocal tariff that the U.S. was set to impose on South Korea starting Friday will be lowered to 15 percent and the tariff on automobiles, one of the country’s key export items, will also be reduced to 15 percent.

The policy chief said the country will not be at a disadvantage compared with other countries regarding the planned tariffs on semiconductors and pharmaceuticals. 

Kim acknowledged that there were strong demands from the U.S. for the further opening of South Korea’s agricultural and livestock markets.

But he added that taking into account food security and the sensitivity of the agricultural sector, South Korea did not agree to further open its rice and beef markets.