Washington: US President Donald Trump increased tariffs on goods imported from South Korea to 25 percent, a move prompted by the South Korean parliament's rejection of a bilateral trade agreement brokered last July. "Because the Korean Legislature hasn't enacted our Historic Trade Agreement, which is their prerogative, I am hereby increasing South Korean TARIFFS on Autos, Lumber, Pharma, and all other Reciprocal TARIFFS, from 15% to 25%," President Trump announced in a post on his Truth Social platform.
According to Kuwait News Agency, President Trump criticized the South Korean legislature for its failure to honor the agreement, stating that the country was "not living up to the Deal with the United States." He expressed his dissatisfaction over the delay, questioning, "President Lee and I reached a Great Deal for both Countries on July 30, 2025, and we reaffirmed these terms while I was in Korea on October 29, 2025. Why hasn't the Korean Legislature approved it?"
The US leader emphasized the significance of trade deals to America, highlighting his efforts to swiftly reduce tariffs as per the agreed terms. He indicated an expectation for trade partners to reciprocate the gesture. The tariff hike represents a notable escalation in trade tensions between the two allies, specifically impacting critical sectors such as the automotive, pharmaceutical, and timber industries.