President Trump on Monday stated he’s elevating tariffs on South Korea as a result of the nation has not but authorized a commerce cope with the U.S. that the 2 nations agreed to in October.
Mr. Trump stated in a social media put up that the U.S. will improve its tariff on imports from South Korea from 15% to 25% and in addition hike levies on the nation’s cars, lumber and pharmaceutical items.
“South Korea’s Legislature is just not residing as much as its Take care of the US. President Lee and I reached a Nice Deal for each Nations on July 30, 2025, and we reaffirmed these phrases whereas I used to be in Korea on October 29, 2025. Why hasn’t the Korean Legislature authorized it?” he stated in asserting the stepped-up duties.
The 2 nations reached a deal on commerce and safety points after Mr. Trump met his South Korean President Lee Jae-myung in Seoul final 12 months. Below the settlement, the U.S. minimize its tariffs on South Korean automobiles, automotive elements, prescribed drugs and different merchandise from 25% to fifteen%.
The pact additionally known as for South Korea to speculate $350 billion in a number of key sectors, together with semiconductors, shipbuiling and biotech.
The Supreme Court docket is predicted to rule quickly on the legality of Trump administration tariffs imposed beneath the Worldwide Emergency Financial Powers Act, or IEEPA. If they’re struck down, White Home officers have stated they’ll flip to different powers that successfully change the sweeping levies.
