President Donald Trump said he is raising tariffs on South Korean imports by 25 percent. The BBC said Trump announced the move after accusing Seoul of not living up to the trade deal it reached with the U.S. in 2024.
In a social media post, Trump said he’ll increase levies on South Korea from 15 percent across a range of products, including cars, lumber, and “all other reciprocal tariffs.” Trump said South Korean lawmakers have dragged their feet in approving the deal, while the U.S. government acted swiftly to reduce U.S. tariffs in line with the transaction agreed to between the countries.
South Korea said it hadn’t received an official notice of the U.S. decision to raise duty fees on some of its goods, and asked Washington for urgent talks to rectify the issue.
South Korea exported about $123 billion worth of goods to the U.S. last year, making it the second-largest export market after China.
