Trump raises tariffs on South Korea to 25% as country ‘is not living up’ to trade deal
President Trump announced on Monday that he would raise tariffs on imports from South Korea to 25%, citing the country's failure to enact their historic trade agreement. The tariffs, which had previously decreased to 15%, will increase on autos, lumber, pharmaceuticals, and other reciprocal tariffs. Trump claims South Korea has not lived up to its trade deal obligations, despite the US having reduced its tariffs. The agreement was finalized after Trump met with South Korean counterpart Lee Jae Myung last autumn, and included investment commitments from South Korea alongside tariff cuts by the United States. Trump previously imposed 10% tariffs on South Korea after declaring an economic emergency and bypassing US Congressional approval.