US President Donald Trump announced that tariffs applied to automobiles, lumber, pharmaceuticals, and all other goods applied to South Korea have been increased from 15% to 25% due to failure to fulfill the trade agreement.
Elchi.az reports that Trump made a statement on his social media account.
Emphasizing that trade agreements are very important for the US, Trump stated that they are acting quickly to reduce tariffs in accordance with the agreed terms in each of these agreements.
He noted that they expect the same approach from their trade partners and claimed that the South Korean parliament did not comply with the agreement it had made with the US.
Recalling that they reached a “great agreement” with South Korean President Lee Jae-myung on July 30, 2025, Trump stated that they reaffirmed these conditions during his visit to the country on October 29, 2025. Trump stated, “Because the Korean Parliament has not implemented our historic trade agreement – which is within their power – I am raising reciprocal tariffs on cars, lumber, pharmaceuticals and all other goods from South Korea from 15 percent to 25 percent.”
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