WASHINGTON, Jan 26 (KUNA) - US President Donald Trump increased on Monday tariffs on goods imported from South Korea to 25 percent, a retaliatory move triggered 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 account on Truth Social platform.
He lambasted the South Korean legislature for failing to honor the agreement, stating that it was "not living up to the Deal with the United States".
"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?" he questioned.
The US leader stressed that trade deals are very important to America and he has acted swiftly to reduce tariffs in line with the transaction agreed to, so he expects trade partners to do the same.
The hike marks a significant escalation in trade tensions between the two allies, specifically targeting key sectors including the automotive, pharmaceutical, and timber industries. (end) rsr.ibi