The US has agreed to impose 15% tariffs on South Korea, lower than the initially proposed 25%, as part of a trade deal that would exempt the US from tariffs. Hyundai Motor and Kia Corp, the world's third-largest automaker, would have faced significant impact without a waiver or reduction in import duty. South Korean officials are discussing potential cooperation in chips, batteries, and biotechnology with the US. A foreign exchange official traveled to Washington to prepare for potential currency policy discussions, which were not part of initial trade negotiations but may be raised if necessary.