Trump increases trade tariffs on South Korea - From 15 to 25%. The Korean government has not approved the bilateral agreement
US President Donald Trump said he would raise tariffs on some goods from the Republic of Korea from 15 to 25 percent, accusing the country's government of failing to approve a bilateral trade agreement with the United States.
"Since the Korean government has not ratified our Historic Trade Agreement, which is their prerogative, I am increasing South Korea's tariffs on automobiles, lumber, pharmaceuticals, and all other reciprocal tariffs, from 15 percent to 25 percent," he wrote on social media.
"The South Korean government is not adhering to the Agreement 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," Trump said.
Under the deal finalized by Trump and South Korean President Lee Jae-Myung in October 2025, the United States would impose a 15 percent tariff on imports from South Korea, 10 percentage points lower than the level Trump had threatened. In return, South Korea agreed to invest $350 billion in the United States.
South Korea is an important trading partner for the United States, importing over $100 billion worth of goods in recent years.
The presidential office of the Republic of South Korea said it has not received any official notification from the US regarding the recent tariff hike and that the country's trade minister will visit the United States to discuss the issue.
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