3 months ago
52
ARTICLE AD BOX
US president Donald Trump announced connected Monday that helium is raising tariffs connected South Korean imports of autos, lumber and pharmaceuticals to 25 per cent, accusing the ally’s legislature of failing to uphold its commercialized statement with the United States.Trump added that South Korea’s legislature has not approved the commercialized woody helium and President Lee Je Myung agreed to connected July 30, 2025, and reaffirmed during his sojourn connected October 29, 2025, questioning wherefore it has not been ratified."Because the Korean Legislature hasn't enacted our Historic Trade Agreement, which is their prerogative, I americium hereby expanding South Korean TARIFFS connected Autos, Lumber, Pharma, and each different Reciprocal TARIFFS, from 15% to 25%."
Trump said done a station connected Truth Social. "Our Trade Deals are precise important to America. In each of these Deals, we person acted swiftly to trim our TARIFFS successful enactment with the Transaction agreed to. We, of course, expect our Trading Partners to bash the same," Trump added.South Korea has been moving to instrumentality a woody announced with Washington successful November aimed astatine reducing US tariffs connected its exports. More recently, Seoul has been successful talks with US officials to clarify its probe into US-based e-commerce institution Coupang (CPNG.N), which was launched pursuing a large information leak, arsenic cited by Reuters.
South Korea is simply a cardinal trading spouse for the United States, consistently ranking among the apical 10 sources of US imports. American companies and consumers import astir $150 cardinal worthy of goods from South Korea each year.In July, Trump announced a commercialized woody with South Korea’s president, but advancement stalled for months amid disagreement implicit an concern pledge sought by the United States. The 2 leaders aboriginal finalized the statement successful October during Trump’s travel to Asia, including a committedness to put $350 cardinal successful the United States.In November, the White House and the South Korean authorities released a "fact sheet" outlining the deal, which was intended to determination the statement forward, arsenic cited by NBC News.The statement included reduced tariffs for some countries, capping US import duties astatine 15 per cent. This marked a rollback from the 25 per cent tariff complaint announced earlier successful 2025 connected South Korea’s "Liberation Day" successful April, a determination that had unsettled markets.Trump’s latest tariff announcement follows astatine slightest 3 erstwhile threats that were ne'er carried out. These included a projected 10 per cent tariff connected Canada aft Ontario ran an anti-tariff World Series ad, threatened tariffs connected European countries implicit Greenland, and a 100 per cent tariff connected Canada that was announced past week.
