Under the deal, South Korea will invest $350 billion in key U.S. industries and purchase $100 billion worth of its liquified natural gas.

While a handful of trade deals have trickled in -- including 15 per cent for South Korea and an extension of current rates for Mexico --many details remain hazy, leaving businesses and manufacturers around the world bracing for more price hikes regardless.

South Korea and the United States said they reached a deal that would set U.S. tariffs on most South Korean goods at 15% in return for $350 billion in investment in the U.S.