Summary
President Donald Trump announced an increase in U.S. tariffs on South Korean products, including cars, lumber, and pharmaceuticals. The tariff rate will rise from 15% to 25% because South Korea's legislature did not approve a trade agreement made last year. President Trump shared this information on his social media platform, Truth Social.
Key Facts
- President Trump raised tariffs on South Korean autos, lumber, and pharmaceuticals to 25%.
- The increase follows a reported failure by South Korea’s legislature to approve a trade agreement.
- The previous tariff rate was 15%.
- President Trump and South Korea reached a trade deal on July 30, 2025.
- The terms of the trade agreement were reaffirmed during President Trump's visit to Korea on October 29, 2025.
- President Trump made the announcement on Truth Social, his social media platform.
