President Trump announced a trade deal with South Korea as his Aug. 1 tariff deadline approaches. This comes as he comments on Federal Reserve Chair Jerome Powell's latest decision on interest rates.

Social media posts have recirculated an old video of US President Donald Trump and falsely presented it as depicting him calling South Korean leader Lee Jae Myung a "bad negotiator" after their countries agreed a trade deal.

The agreement comes after other American allies, like Japan, clinched their own deals, partly to moderate President Trump’s tariff threats.