Trump hikes tariffs on South Korea to 25%; cites legislative delay in enacting ‘historic’ commerce deal

US president Donald Trump introduced on Monday that he’s elevating tariffs on South Korean imports of autos, lumber and prescription drugs to 25 per cent, accusing the ally’s legislature of failing to uphold its commerce settlement with america.Trump added that South Korea’s legislature has not permitted the commerce deal he and President Lee Je Myung agreed to on July 30, 2025, and reaffirmed throughout his go to on October 29, 2025, questioning why it has not been ratified.“As a result of the Korean Legislature hasn’t enacted our Historic Commerce Settlement, which is their prerogative, I’m hereby growing South Korean TARIFFS on Autos, Lumber, Pharma, and all different Reciprocal TARIFFS, from 15% to 25%.” Trump mentioned by means of a publish on Reality Social. “Our Commerce Offers are essential to America. In every of those Offers, we’ve acted swiftly to scale back our TARIFFS in keeping with the Transaction agreed to. We, after all, anticipate our Buying and selling Companions to do the identical,” Trump added.South Korea has been transferring to implement a deal introduced with Washington in November geared toward lowering US tariffs on its exports. Extra just lately, Seoul has been in talks with US officers to make clear its investigation into US-based e-commerce firm Coupang (CPNG.N), which was launched following a serious knowledge leak, as cited by Reuters. South Korea is a key buying and selling accomplice for america, constantly rating among the many high 10 sources of US imports. American corporations and customers import practically $150 billion value of products from South Korea annually.In July, Trump introduced a commerce cope with South Korea’s president, however progress stalled for months amid disagreement over an funding pledge sought by america. The 2 leaders later finalized the settlement in October throughout Trump’s journey to Asia, together with a dedication to speculate $350 billion in america.In November, the White Home and the South Korean authorities launched a “truth sheet” outlining the deal, which was supposed to maneuver the settlement ahead, as cited by NBC Information.The settlement included diminished tariffs for each nations, capping US import duties at 15 per cent. This marked a rollback from the 25 per cent tariff price introduced earlier in 2025 on South Korea’s “Liberation Day” in April, a transfer that had unsettled markets.Trump’s newest tariff announcement follows at the very least three earlier threats that have been by no means carried out. These included a proposed 10 per cent tariff on Canada after Ontario ran an anti-tariff World Sequence advert, threatened tariffs on European nations over Greenland, and a 100 per cent tariff on Canada that was introduced final week.