Trade Shock: Trump Raises South Korea Tariffs to 25%
Trump hikes tariffs on South Korean imports to 25%, shaking global trade. Seoul seeks urgent talks as the US–South Korea trade deal faces fresh tension.
US President Donald Trump has announced he will increase tariffs on South Korean imports to 25%, accusing the country of "failing to fulfill" a trade deal agreed last year.
In a social media post, Trump said he would raise the tariffs on South Korea from 15% on a range of products, including automobiles, timber, pharmaceuticals, and "all other reciprocal tariffs."
Trump claimed that South Korean lawmakers had delayed approving the deal, while "we have moved quickly to lower our tariffs as agreed in the transaction."
South Korea says it has not been officially notified of the decision to increase tariffs on some of its goods and wants to hold immediate talks with Washington on the issue.
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It also said that South Korean Industry Minister Kim Jung-kwon, currently in Canada, would travel to Washington as soon as possible to meet with US Commerce Secretary Howard Lutnick.
The two countries struck a deal last October in which South Korea pledged to invest $350bn (£256bn) in the US, some of which would be in shipbuilding.
Tariffs are paid by companies that import products. In this case, US companies would pay a 25% tax on goods purchased from South Korea.
Trump has frequently used tariffs as a weapon to implement his foreign policy during his second term in the White House.
On Saturday, he threatened Canada with 100% tariffs if it pursued a trade deal with China.
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On Monday, Chinese officials said their "strategic partnership" agreement with Canada was not intended to harm other countries.
Canadian Prime Minister Mark Carney said his country was not pursuing a free trade deal with China and had "never" considered one.
He added that Canadian officials had clarified their position to their US counterparts. Earlier, Trump had said he would impose import tariffs on eight countries—including the UK—that had opposed US plans to acquire Greenland, an autonomous territory of the Kingdom of Denmark, which is a NATO member.
He later backed down from the tariff threat against Greenland, citing progress toward a "future deal" on the island, but the incident strained US relations with Denmark and other NATO allies.
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