Trump Threatens to Raise Tariffs on South Korean Goods to 25 Percent

Former U.S. President Donald Trump has announced plans to raise tariffs on South Korean goods from 15 percent to 25 percent, citing alleged violations of a previous trade agreement. The proposed increase would affect key sectors including automobiles, timber and pharmaceuticals.

Trump claimed that South Korea’s parliament failed to properly implement the trade deal, prompting the tariff threat. South Korean officials said they were not given prior notice and are seeking urgent talks with U.S. counterparts to resolve the issue.

Analysts warn that higher tariffs could significantly impact South Korea’s export-driven economy, particularly its automobile industry, while giving a competitive advantage to Japan and the European Union in the U.S. market.