Nationwide Overseas Commerce Council president Jake Colvin discusses overseas relations below the Trump administration on ‘The Claman Countdown.’
President Donald Trump mentioned Monday that he was growing tariffs on South Korean imports of autos, lumber and prescription drugs to 25%, accusing Seoul of “not residing up” to its commerce deal.
“Our commerce offers are essential to America. In every of those offers, we now have acted swiftly to scale back our TARIFFS in step with the transaction agreed to,” Trump wrote in a Reality Social publish.
“We, after all, count on our buying and selling companions to do the identical,” he added, saying that South Korea’s legislature had not accepted the commerce settlement.
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President Donald Trump mentioned he would increase tariffs again as much as 25% on South Korea following delays in an agreed commerce deal. (Anthony Wallace/AFP/Getty Pictures)
“As a result of the Korean Legislature hasn’t enacted our historic commerce settlement, which is their prerogative, I’m hereby growing South Korean TARIFFS on Autos, Lumber, Pharma, and all different Reciprocal TARIFFS, from 15% to 25%,” Trump added.
The South Korean Embassy in Washington, D.C., didn’t instantly reply to Fox Information Digital’s request for remark.
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Hyundai automobiles are loaded on a ship at a port close to the corporate’s Ulsan plant in Ulsan, South Korea, on March 30, 2025. (SeongJoon Cho/Bloomberg/Getty Pictures)
The transfer suits into Trump’s broader second-term technique of utilizing tariffs as leverage to implement commerce compliance somewhat than as non permanent negotiating instruments.
The transfer comes because the Trump administration awaits a Supreme Court docket ruling on whether or not among the commerce duties imposed in 2025 exceeded presidential authority, a call that would have broad implications for present tariff actions.
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President Donald Trump, at proper, and South Korean President Lee Jae-myung agreed to a commerce deal in 2025. (Chip Somodevilla/Getty Pictures)
Tariffs are taxes levied on imported items. Though they’re paid by firms on the border, the prices are sometimes handed alongside by means of increased costs, leaving shoppers to bear a lot of the burden.
It stays unclear when the upper tariffs will take impact or how South Korea could reply.
