Trump Raises Tariffs on South Korean Imports Amid Trade Deal Criticism
Washington D.C. - U.S. President Donald Trump announced he is raising tariffs on South Korean imports to 25%, accusing Seoul of not adhering to a trade deal reached last year. The increased levies will affect a range of products including automobiles, lumber, and pharmaceuticals, according to Trump's social media post.
Trump stated that South Korean lawmakers have been slow to approve the deal, while the U.S. has acted swiftly to reduce its tariffs. The move comes as tensions rise between the two countries over trade agreements.
South Korea responded by stating it had not received official notice of the tariff increase and is seeking urgent talks with Washington to discuss the matter. Shares in Korean carmakers reportedly tumbled briefly following Trump's announcement.
The tariffs, previously at 15%, will now be applied to "all other Reciprocal TARIFFS," according to Trump. The president's decision has raised concerns about the future of trade relations between the United States and South Korea.
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